Falsely declare as exonerated (7)
I believe the answer is:
cleared
'exonerated' is the definition.
('clear' can be a synonym of 'exonerate')
'falsely declare' is the wordplay.
'falsely' is an anagram indicator.
'declare' is an anagram of 'CLEARED'.
'as' is the link.
(Other definitions for cleared that I've seen before include "approved" , "Profited by" , "Jumped over" , "found not guilty" , "free" .)