[3][5] Ward denied the company was manipulating the market in an effort to drive prices higher amidst the concerns of traders having difficulties fulfilling cocoa obligations.
[7] Armajaro was barred from trading in 13 districts in western Ghana after a journalist filmed one of its contractors agreeing to smuggle cocoa across the border to Ivory Coast where prices were higher.
[8] The case has caused additional scandal after it was revealed that the British Government had lobbied for Armajaro which was also a significant donor to the Conservative party as well as to Andrew Mitchell, the international development secretary who reportedly intervened on Anthony Ward's behalf after receiving £40,000 in donations from the millionaire's company to his parliamentary office.
The purchase was valued at £658 million and accounted for 7 per cent of annual global cocoa production (some sources call this a market corner).
[12] In November 2013, Armajaro announced the sale of its commodity trading division to ECOM Agroindustrial after sustaining losses of $7.5 million in fiscal year 2012, despite $3 billion in revenue.
The purchase came in a period of uncertainty for commodities as sugar and coffee futures remained at stagnant lows coupled with tightening margins for cocoa due to slower demand.
[13][14] In August 2011, Armajaro Trading Ltd signed an agreement with the government of St Vincent and the Grenadines aiming to establish a sustainable cocoa industry on the island.