Flagship Investment reference: Detailed verdict

ISLAMABAD: Despite the winter vacations, Accountability Court-II judge Muhammad Arshad Malik on Sunday wrote and signed the judgment acquitting former prime minister Muhammad Nawaz Sharif in the Flagship reference.

In his verdict, the judge declared that the National Accountability Bureau (NAB) failed to prove Nawaz Sharif’s corruption in 16 offshore companies and his direct links to these companies.

The judge said sufficient proof was also not produced to prove that Nawaz Sharif had taken benefits from these companies and kept their ‘benami’ assets.

The judge said Nawaz Sharif was exonerated as the prosecution failed to prove the charges against him.

According to sources in the Accountability Court-II, Judge Muhammad Arshad Malik had signed every page of the judgement after writing it completely. However, due to official holiday the court could not issue the verdict on Sunday.

When defence counsel Zubair Khalid was questioned about issuance of the ruling, he said only the judgement was completed and there was likelihood of issuance of verdict formally on Monday (today). He may apply for an attested copy of the judgment.

Zubair said he would go to the court on Monday and inform the media about the situation in this regard.

On December 24, the court had awarded Nawaz Sharif seven-year jail in Al-Azizia reference and acquitted him in Flagship investment reference.