He was acquitted by the court in Flagship Investment reference.

In a short verdict announced today, the court said there was concrete evidence against the former premier in the Al-Azizia reference, and that he was unable to provide a money trail in the case, reported Geo News.

The former PM was taken to custody from the court premises after the verdict was announced.

Accountability Court Judge II had reserved the order on Wednesday.

On Dec 7, the Supreme Court had directed the accountability court to finish the case by Dec 24.

Security around the court has been beefed up due to the judgement pronouncement by the court.

Section 144 has been imposed in the capital to maintain law and order. 

On July 6, an accountability court in Islamabad had sentenced the former three-time premier to a total of 11 years in prison and slapped a £8-million fine (Rs1.3-billion) for "owning assets disproportionate to known sources of income".

Sharif was disqualified for life from holding political office or contesting elections.

He was ousted from power last year:

The Pakistan Supreme Court had last year ousted Sharif from the post of the Prime Minister following the Panama Papers revelations.