Accountant Ian Pierce, charged with failing to co-operate with a probe into corruption in the government's multi-billion rand arms deal, walked from Pretoria's Commercial Crimes Court a free man on Thursday.

Magistrate David Makhoba dismissed all four counts against Pierce at the close of the State's case, saying there was not sufficient evidence to support the charges.

The first charge against Pierce related to him allegedly ignoring a summons to appear before arms deal investigators on July 10 last year, and the second to failing on the same date to provide books and documents of Futuristic Business Solutions (FBS) - of which he is a director.

He was thirdly charged with giving false evidence to investigators on December 11, by allegedly stating that documents they were looking for were with the company's auditors, when he knew they were not.

The fourth charge related to him failing to produce cash books, ledgers and other FBS financial documents on the same date.

David Feldman, for Pierce, argued on Wednesday his client never received the summons, and had tried his best to comply with the request for documents.

Makhoba accepted evidence that there was no proof of Pierce having received the summons - which relates to charges one and two.

"If...the accused comes to the stand and says he did not receive the summons, how on earth will the State be able to prove that he did?"

The magistrate also rejected State arguments that Pierce had lied to investigators about FBS' auditors having certain documents.

An employee of the auditing company conceded on Thursday that a cashbook and ledger the State were looking for had indeed been in the company's possession all along.

On the fourth charge of withholding documents, Makhoba accepted defence arguments that all available papers were handed over.

Feldman asked the court on Wednesday for a discharge, saying there was no case for his client to answer.

Such an application compels a court to consider whether sufficient evidence existed to pursue the case.

Makhoba said on Thursday he could find no such evidence. He quoted from a Supreme Court of Appeal judgment stating that an accused person was entitled to be discharged if no possibility of a conviction existed unless he incriminated himself in the witness box.

The Scorpions investigating unit required the FBS documents as part of their probe into corruption in the arms deal. FBS is a shareholder in African Defence Systems (ADS), which benefited from the deal.

Last month, the Mail & Guardian reported that the Scorpions were investigating Deputy President Jacob Zuma for an alleged attempt to secure a R500 000-a-year bribe from Thomson-CSF (since renamed Thales) - a French defence conglomerate that, with ADS, was part of a German consortium chosen to supply South Africa with four new corvette warships.

The Scorpions were looking for evidence of a possible hidden beneficial interest by Zuma in ADS and it was considered "reasonable to assume" that this might be via ADS's South African minority shareholders - including FBS, the report said.

Zuma has denied the claims.

FBS itself was also allegedly the subject of investigation for suspected fraud or corruption in relation to arms deal contracts, the newspaper said.

Pierce welcomed Thursday's ruling, saying: "It (the prosecution) has been a waste of time from day one."

With acknowledgement to www.news24.co.za.