The accountability court has found former prime minister Nawaz Sharif guilty and has sentenced him to at least 10 years' imprisonment, his daughter Maryam Nawaz to at least seven years imprisonment and her husband Captain Safdar to one year in jail.
Nawaz has also been hit with a hefty fine of £8 million pounds and Maryam for £2 million. There is no fine for Safdar.
The court has also ordered the confiscation of the Avenfield properties.
On its official Twitter, PML-N rejected the court's decision
In response to the guilty verdict, Maryam Nawaz tweeted that her sentence for her resistance against "unseen forces" was quite short and that her resolve has reached a new peak today.
She also congratulated her father for "not being afraid, not bending [and] choosing Pakistan over his personal life," and that "victory will be his, God-willing."
PML-N Chairman Shahbaz Sharif said, "This will be remembered as a black day in history," speaking soon after the Avenfield corruption reference verdict was announced. He also called the decision "flawed," "politically motivated" with "glaring loopholes."
The PTI welcomed the decision with the hashtag #NextStopAdiyala
PTI's Asad Umar also lauded the court's decision, saying "The victory of the law is the victory of justice and most of all, the Pakistani people."
Dr Arif Alvi, PTI's Sindh president added that "justice has been served to the people of Pakistan."
AML chief Sheikh Rasheed took the big-picture view: "Pakistan is a big country. People may come and go, but Pakistan will always remain."
Senior Dawn journalist asks, "Is it the end of Sharif political dynasty?"
A few months ago, analyst Adnan Rasool wrote a perceptive piece predicting what might happen to PML-N after the events of today.
Who will take the lead and what kind of agenda are they willing to work on?
For more post-Avenfield analysis, read here.