It is difficult to pinpoint the exact moment when the trial of one of the most audacious robberies in UK history wobbled into a freefall.

The collapse of the Northern Bank trial was not an abrupt crash, it was more of a slow-motion nosedive with some observers saying the case against Christopher Ward was teetering even before it was built.

So Crown Court 11 at Laganside Courthouse was completely void of any murmurs of surprise, shocked faces or raised eyebrows yesterday as, after four weeks of “circumstantial” evidence, prosecutors concluded that no further submissions would be made in the case against the 26 year-old, who for the past three years has been accused of being the “inside man” who helped carry out the world-famous raid.

Whispers that the trial had finally collapsed could be heard in the corridors of the courthouse 24 hours earlier.

From early morning on Wednesday, speculation was rife that prosecutors were planning to call it a day. At lunchtime on Wednesday, Crown prosecutor Gordon Kerr QC and defence barrister Arthur Harvey QC told Judge Mr Justice McLaughlin that they had reached an agreement in the case but would like an adjournment for a day.

While both parties remained tight-lipped about their “agreement”, the smiles on the faces of Mr Ward’s legal team, family and friends as they entered the courtroom yesterday morning were the ultimate giveaway.

Mr Ward nodded his head and smiled at Mr Justice McLaughlin when the judge told the packed courtroom that the prosecution’s decision to offer no further evidence was “fully justified”.

He had just been declared a free man but Mr Ward sat patiently in the dock while Mr Justice McLaughlin spoke about the Northern Bank robbery and how those behind the crime had devastated the lives of their victims.

“The community should understand this is far from being a victimless crime. Those caught up in it are still traumatised by it almost four years later and for some, their livelihood and careers are shattered. They should have our sympathy and concern,” he said.

After the court rose, Mr Ward and his family gathered in a quiet corner of the courthouse away from the glare of the media scrum that had gathered outside. Some of his family wept as they made hushed phone calls to friends.

Emerging from the courthouse at around midday Mr Ward appeared overwhelmed by the massive media presence. He bit his lip and was shaking slightly as he stood beside his solicitor Niall Murphy from Kevin R Winters who read a statement to the press on his behalf saying that his client had been denied the presumption of innocence from the beginning.

With the world watching, the collapse of the trial is the latest embarrassment the robbery has brought to the PSNI.

It has been almost four years since the raid and despite a number of arrests, the discovery in the toilets of the police athletic associations’ Newforge Country Club of around $100,000 in US bank notes taken during the robbery and the recovery of £2m — including £60,000 of Northern Bank notes — during raids in Cork and Dublin, Chris Ward remains the only person to be brought to trial for this “highly organised” crime.

Despite anticipating the trial’s collapse Assistant Chief Constable Drew Harris would have felt deflated as he sat at the back of the court yesterday.

On December 20 2004 unknown criminals walked away with £26.5m in cash from a bank in Belfast city centre. It really was that simple.