PORT CLINTON, Ohio — An Ohio jury found a man accused of pushing his friend off a boat not guilty of aggravated murder, but guilty of aggravated vehicular homicide and involuntary manslaughter.

The panel of nine women and three men reached a verdict after deliberating for eight hours and 35 minutes. The verdict was reached late Tuesday afternoon, but was announced Wednesday morning because Visiting Judge Richard Markus was not available. (VIDEO)

As the verdict was read, Scott Speer bowed his head and cried as members of both families sobbed. Speer will remain free on bail until he is sentenced Oct. 31.

"Safety is an issue in this case for everyone involved, but the judge seems set on allowing him to be free" until sentencing, prosecutor Lorrain Croy said. "[Speer] has a week to get his things together."

The jury found Speer not guilty of the top counts of aggravated murder and murder, which could have carried sentences up to life in prison. Speer could receive probation or up to five years in prison on the lesser charges, Croy said.

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James Barnett, 39, who worked for Speer's plastics company, went overboard while the two were out on Lake Erie on Aug. 6, 2002. Barnett's body, which washed ashore near Mouse Island the next day, was found by family members. (MAP)

Croy said she was pleased with the jury's verdict, especially given the lack of specific evidence about what happened on the boat. She told CourtTVnews.com that witnesses had told her Speer was a "reckless maniac" on his boat and had relayed stories of threats Speer had made on people's lives.

Some of that evidence was ruled inadmissible by Markus during pretrial hearings and others could not be corroborated, Croy said.

Members of the Barnett family had told Croy that Barnett was going to testify in Speer's divorce hearings that he had been cheating on his wife. Before the trial, prosecutors considered the divorce proceedings to be a motive for murder, but Croy said she could not find documents proving Barnett was going to testify.

William Seese, a recovering drug addict, testified for the prosecution that Speer, 42, confessed to him that he pushed Barnett from the boat. Defense attorney Russell Buzzelli questioned the credibility of Seese's story because he was under the influence of Vicodin at the time of the alleged confession.

"We recognize that it's hard for a jury to convict someone of murder based on one person's testimony," Croy said after the verdict.

The prosecution argued during the trial that Speer was driving his boat recklessly by speeding at 39 mph in rough waters and high winds. This could have caused Barnett to fall overboard, Croy argued.

James Barnett worked for Scott Speer at his plastics company.

In his closing argument, Buzzelli said that the boat was in neutral and Barnett fell into the water because he refused to obey Speer's directions to sit down. He fell overboard when a wave crashed into the side of the boat, Buzzelli suggested.

Croy said she was shocked by Buzzelli's claim because he never cross-examined any of the state's witnesses about whether the boat could have been in neutral.

"We had never heard that," Croy said. "Not until his closing arguments did he ever mention anything about the boat being in neutral."

Buzzelli twice asked the judge to dismiss the charges of aggravated murder and murder. Markus denied the motions, but expressed "considerable doubt" about the aggravated murder charge, which required the jury to find that Speer engaged in "prior calculation and design" to reach a guilty verdict.

Speer's lawyers also asked Markus to specifically ask Juror No. 1, who is hearing impaired, if she wanted to keep her vote without reading the 911 transcript. During the trial, Juror No. 1 read along with the court reporter as the 911 tape was played.

After the verdict, Buzzelli said he planned to appeal but he would not comment on the jury's verdict.

Most of Barnett's friends and family said that, although they wished Speer had been found guilty of all charges, they were happy to have the trial over with.

Mike Young, Barnett's brother, said he would have liked an acquittal on all counts.

"I believe they did what they had to," he said. "But it would have been a whole lot better if it could be over and Scott could just go home."