Malema left the court with hundreds cheering him on following the verdict.
The trial, which was supposed to begin on Monday after being adjourned in September last year, was again postponed until Tuesday because one of Malema's four associates was too ill to appear at the court.
An outspoken critic of corruption, Malema is accused of receiving $400,000 from involvement in corrupt road construction projects.
The charges include fraud, corruption, racketeering and money-laundering. If convicted, Malema could have spent a maximum of 15 years in prison, paid a large fine and would lose his seat in parliament.
Malema and his supporters have repeatedly dismissed the allegations as politically motivated, saying his prosecution is a punishment for accusing President Jacob Zuma of corruption.
In August last year, Malema led "pay back the money" chants against Zuma, triggering scuffles in parliament.
He has demanded that Zuma repay the $24m of taxpayers' money spend on "security upgrades" at his extravagant private home.
Malema himself, along with four business associates, is accused of lying to win a public works construction contract in his home province of Limpopo, worth $4.6m.
The proceeds are alleged to have been used to help buy Malema a luxury Mercedes Benz Viano and a large farm.
