His daughter, Maryam Nawaz Sharif, considered his political heir, was sentenced to seven years in prison and fined $2m.
It was the latest blow to Sharif, just weeks ahead of the country's parliament elections later this month, and also the first verdict against the embattled former premier who has faced a string of trials since he was ousted from office by the Supreme Court previous year for concealing assets overseas.
Sharif and Maryam are now in London visiting Kulsoom, who is suffering from cancer and is undergoing treatment there. "Nawaz Sharif has always fought bravely", he added.
April 13, 2018 - The Pakistan Supreme Court further rules Sharif is banned from political office for life. It is a major setback for Nawaz Sharif's party which is contesting the election on all parliamentary seats.
While Sharif was fined 8 million pounds (USD 10 million), his daughter Maryam was handed down a 2 million pound (USD 2.6 million) fine.
"It is based on injustices".
The National Accountability Bureau court accused Sharif and his family of being unable to legitimately show the money trail for the purchase of several luxury properties in London, mostly in the mid-1990s.
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Speaking to media in Lahore Friday, former CM Punjab said, "The Pakistani nation and the PML-N reject this decision".
Maryam, 44, also said that in the Avenfield case, her father was returning and attempts were being made to stop him. In July, last year, Sharif was ousted by the Pakistan supreme court in the Panamagate scandal. The verdict immediately raised questions over whether he would return to Pakistan, with analysts saying he was in a "difficult position" ahead of the election.
But the military ended Sharif's second stint in power in 1999 in a bloodless coup.
He fell out with powerful generals once he ascended to power a decade later, and relations became fraught after his return as premier in 2013, partly because he challenged the military over foreign policy, which the generals traditionally considered their domain.
Khan told an election rally in the country's northwest that Sharif might have escaped punishment if he had not waged a legal battle against him years ago.
The PML-N has termed the trial political victimisation. The court has ordered confiscation of the properties.