Thursday’s verdicts came nearly 12 months after the trial began.
Originally expected to last three months, the case experienced numerous setbacks and delays.
After the jury was discharged, Shoukat challenged Judge Smith’s decision to rule on the case himself, but his application was dismissed at the Court of Appeal last month.
Granting Shoukat bail ahead of sentencing, Judge Smith warned him: “I’m keeping very much an open mind as to what the right sentence is in this case.
“All options remain open. There’s a lot of information I need to consider.”
Mr Malik, 58, of Colne Rd, Burnley, was found not guilty of causing a public nuisance, fraudulent trading and money laundering.
Speaking on Thursday he said he was “profoundly relieved and grateful” after “perhaps the darkest chapter of my life”.
Ms Connell, 65, of Wagon Farm, Ripponden, Mr Moore, 57, of Plober Street, Burnley, and Dr Zarneh, 71, of Wood Lane, Halifax, were all found not guilty of causing a public nuisance and fraudulent trading.
