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Ultimate Warrior No Criminal Charges After Alleged Man-Panty Heist

7/24/2012 12:40 AM PDT

Ultimate Warrior -- No Criminal Charges After Alleged Man-Panty Heist

EXCLUSIVE

Ultimate Warrior
won't face criminal charges after allegedly bilking a memorabilia dealer out of valuable wrestling merch ... including ring-worn wrestling trunks -- this according to law enforcement.

TMZ broke the story ... a sports memorabilia dealer named Christopher Elias filed a police report last week, claiming he paid Warrior $28,000 for the giant merchandise collection ... but Warrior never anted up.

Now, a rep for the Sante Fe Sheriff Department tells TMZ, they investigated the matter and can’t determine whether any fraud took place.

As a result, police have deemed the merch dispute to be a civil matter -- and the courts can handle it from here out.

A rep for Warrior tells us, "The facts will speak for themselves once presented." Watch TMZ Sports on FS1 Get the new TMZ Sports app!

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