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Insufficient evidence led to Nawaz Sharif's acquittal in Flagship reference: detailed judgement

Former prime minister Nawaz Sharif was given the "benefit of doubt" in the Flagship Investments corruption reference over lack of evidence, it emerged on Monday after the detailed verdict was issued by an accountability court.

On December 24, Judge Mohammad Arshad Malik announced in the court that “he didn’t find anything against Nawaz Sharif in reference No 18 [Flagship Investment] and the accused is acquitted in this case”.

The three-time former prime minister, however, was handed seven years in jail and multiple fines after being found guilty in the Al-Azizia/Hill Metal Establishment (HME) case. He is currently serving his sentence at Kot Lakhpat jail in Lahore.

The detailed judgment in the Flagship reference, penned by Justice Malik, said that the possibility of Sharif being the real beneficial owner of Flagship Investments Ltd "cannot be ruled out".

The court cited a 2015 judgement and reiterated that for the charged person to be saddled with liability, the prosecution has to establish its case "beyond all reasonable doubts".

The judge further said that "based on available evidence, it is inclined to extend the benefit of the doubt" to the PML-N leader.

The judge, however, noted that the co-accused, Sharif's sons Hassan and Hussain Nawaz, "have already been declared as proclaimed offenders" and ordered that their "perpetual non-bailable" arrest warrants be issued.

Furthermore, Judge Malik stated that the possibility of Sharif having supplied Hassan with funds to the tune of £705,071 from his "undeclared, secret wealth and assets held outside Pakistan cannot be ruled out completely" but noted that "there is insufficient evidence to safely reach the conclusion".

The detailed verdict has been released exactly a week after the acquittal. While the verdict in case of a conviction is handed over to the accused at the time of its pronouncement, the judgement in case of acquittal is provided to him/her on request.



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