Yes, but in order to discover that there is nothing on your PC, the police will break down your door, search your house and remove all computer-related devices that they can find. After a few months in their possession, and a thorough search of the contents, they will conclude that you must have hidden the illegal content on a thumb drive or some other device that they must have missed. In the meantime, your name and details of the search incident will have been released to the local press and the court of public opinion will have already reached a verdict of guilty that you and your family will have to live under forever. Lack of evidence in this case is not the same as innocence.
Now, this scenario may or may not be likely, but you do have to ask yourself if it's worth it to have an open connection.