MTV Star Congrats, We Can't Prove You Laundered Money!

10/21/2012 9:20 AM PDT

Creepa ... is no Al Capone ... at least according to authorities who claim they just don't have the evidence to prove the ex-MTV star was the mastermind in a counterfeit cash scheme.

We broke the story ... the former "From G's to Gents" winner was arrested back in September after cops say he ordered a woman to launder money through a SuperWalmart in Florida.

Creepa (less-fun-but-real name Thaddeus Chaylon Martin) was booked for multiple counts of fraud ... and locked up at Alachua County Jail.

But TMZ has learned ... Creepa is now OFF THE HOOK ... after prosecutors decided they didn't have the proof they needed to convict him.