Action star Wesley Snipes was found not guilty of federal tax-fraud and conspiracy charges Friday in Ocala, Fla., but was convicted on three misdemeanor counts of failing to file a tax return.

Snipes and two co-defendants, a delicensed accountant and a tax protest leader, were indicted in 2006. Snipes was also indicted on six counts of willful failure to file a tax return from 1999-2004, a period in which he signed two contracts for more than $10 million on sequels in the "Blade" trilogy. He was acquitted on three of those and convicted on the others. He could be sentenced to three years in prison after originally facing a possible 16 years.

Snipes sat expressionless until all of his verdicts were read. Then, defense attorney Robert Bernhoft put his hand on the actor's leg and Snipes nodded in relief.