About Emerald Passport
Emerald Passport was registered in Panama as a network marketing business. In the US, it was a legitimate company. Emerald Passport declared that traditional education alone is not sufficient to assist you to become successful and compete in this century. They have educational merchandise to teach you for long-term financial and personal success.
However, in Australia, The Federal Court shut down Emerald Passport. . Australian Competition and Consumer Commission (ACCC) stated: “Emerald Passport is an international scam that was created by a company in Panama. It promoted self-help products such as internet-based audio visual presentations with promising titles such as ‘Mastering Money’ and ‘Wealth Fundamentals’. “Success depends on the number of people they can recruit, and in turn on the number those below them can recruit. Ultimately pyramid schemes must fail as it becomes harder and harder for participants down the chain to recruit people. Inevitably people will lose their money”. Emerald was closed almost at the same time in the US.
My point is how we could prevent this type of tragedy from happening in the future. If you have a complete look back at Emerald Passport, You would find Emerald Passport was just a cash pyramid scheme, a business scam! At the very beginning it was NOT a real business opportunity! The followings are my analysis:
1. Product price and value do not match in Emerald Passport
In order for a company to grow healthily and last very long time, manufactured goods price and value have to match. Sadly, I do not see this point from Emerald Passport.
a. Emerald Passport’s preliminary sign up fee is $1295. You would be able to have access to their teaching system (merchandise) after enrollment. In addition to that, two upper lever conferences that cost $8000 and $13,000 were required to attend. These conferences were kept a secret (you have to pay first before you know the details), and was claimed for self-development. Emerald Passport always held the conferences in Panama, which I doubt the reason. Traveling to Panama might only be just an plea on the massive charges that people must pay for some under-the-table reasons without proving the real value that the conferences may bring to people.
b. The percentage of people who purchased the product as regular shoppers (other than distributors of this company) within the total buyers is a very essential indication that represents the value of a manufactured goods in a network marketing business. I have never heard anybody who paid $1295 enrolling fee, and paid extra $8000 and $13,000 to travel to Panama only for the so called great education on self-growth, not want to generate profits from that process, though I do not know that proportion in Emerald Passport. I did not say nobody, but one fact is sure: the percentage of people that did that is very small, if it is not zero. This leads us to conclude that Emerald Passort over-estimated their “self-improving educational manufactured goods”. The cause why people still purchase those products is because Emerald Passport convinced those people that they can make a lot of money from that process. Keep in mind this most important point: making a lot of money, not from the result after learning their “self-improving educational manufactured goods”, but FROM THAT PROCESS. How? It is through the Compensation Plane of this Emerald Passport.
2. Obviously Emerald Passport was playing the pyramid scheme
An important point is all the testimonials as to the success of putting these “educational materials” to use I heard of were from those reselling the merchandise and making $1000 on a $1295 product. The people who got “success” in Emerald Passport are making money from those recruiting process, rather than the result of those expensive self-improving and real estate training.
3. Conclusion:
After reading this article, after looking back at Emerald Passport, you are supposed to find out that Emerald Passport was NOT a real business opportunity. At least it was not built on a solid foundation. I hope this review would help you to avoid this type of scam companies in the future.
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