Chief Judicial Magistrate P Vadamalai also ordered Jayalakshmi to pay a fine of Rs 2,500 each in respect of the four cheating cases.
As the accused had already spent 14 months in jail as a remand prisoner, she was being set free, the court ordered.
CBI had filed the four cases against Jayalakshmi based on complaints given by three different persons, including two jewellery shop owners here.
With this, proceedings in all six criminal cases filed against the woman have been completed. One case each was filed in Coimbatore and Tiruchiurappalli.
Jayalakshmi hit headlines in 2004 when she made startling allegations that more than 20 police officials, including a Superintendent of Police, had sexually harassed her.
She moved the Madras High Court Bench here seeking action against the police personnel following which the court ordered a CBI probe.
Based on the recommendations of CBI, the state government had then suspended some police personnel. In the meantime, CBI registered cases against her based on cheating complaints.