Russians Renege on $125,000,000 USD technology loan for Global Sports Social Network UB

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 10, 2008 --

UBZ2.COM LLC plans legal action against Russian Funding Group VOLK Finance Group, its officers and the government of the Russian Federation for intellectual property theft. UBZ2.COM LLC signed on the 10th of March 2008 a Low Interest Technology Loan for $125,000,000. UBZ2 is a Global Sports Social Network that has a variety of functions yet unseen in Social Networking and uses a very unique revenue generation system. While it has many revenue streams, its central business model is different from any currently in the marketplace. Fox Media Lab of Massachusetts, USA and a small group of investors own UBZ2.COM LLC.

UBZ2.COM contends there has been technology theft by the Russians and warns all that come in contact with Russian Funding Groups beware. Additionally UBZ2.COM had discussed an exclusive Master Russian Language Franchise with VOLK Finance Group, further complicating the theft assertion. The Technology Loan Agreement’s contents, apostils, and seals had been reviewed by the Russian Embassy in Washington, (as well as delivered to the consulates in New York and San Francisco). Vadim V. Saveliev, Trade and Legal Advisor for the Embassy of the Russian Federation in Washington D.C. not only validated but recommended working with Volk Finance Group.

After months of trying to close the agreement that was signed shortly after President Bush and then President Putin met in Sochi, the Embassy of the Russian Federation then states through Legal Advisor Evgeny Egorov that they “did not have any relation to your (UBZ2.COM LLC) loan agreement with Russian Company Volk Finance Group Inc,” while UBZ2.COM LLC has correspondence that is contrary to this. The embassy official then further disassociates the RF from their original actions by stating “Please don’t apply to us on this matter”.

“This is out right theft of our technologies and methodologies,” says Joe Fox, principal of UBZ2.COM LLC and a recognized forefather of the Internet. The Volk/UBZ2 agreement represented what President Bush and Putin referred to as “technology exchange” in Sochi earlier this year says Fox.

In seeking remedy, Mr. Egorov of the RF Embassy in Washington first recommended UBZ2.COM LLC to the Russian Law Firm Klishen & Partners. “Now they don’t want anything to do with us, we simply can’t stand by and watch some of America’s cutting edge technology be pilfered,” says Fox. UBZ2.COM had appealed for fair play and intellectual property protections to Russian Senator Mikhail V. Marelov, RF American Embassy and Consulate, RF Federal Agency for Physical Culture and Sport Minister Viacheslav Fetisov and even on numerous occasions directly to President Medvedev.

UBZ2.COM global Sports Social Network was to promote peace through the brotherhood of sports.UBZ2.COM LLC contends that Volk Finance Group’s Managing Director Igor Yakovlev; also principal owner of Eurasia largest consumer electronics chain may behind the intellectual property theft.

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