U-Vistract pyramid founder Noah Musingku dies in Papua New Guinea — RMF24

Noah Musingku, the founder of the U-Vistract financial pyramid scheme who later proclaimed himself ruler of the self-proclaimed kingdoms of Papaala and Meekamui, has died on Bougainville Island in Papua New Guinea. The Bougainville Independence Movement political party announced his death. As reported by RMF24, Musingku died on October 12, 2026, after battling an illness for more than three weeks.

The U-Vistract pyramid scheme

According to the Organized Crime and Corruption Reporting Project, Musingku was accused of defrauding Oceania residents of tens of millions of dollars. His U-Vistract scheme promised investors monthly payments equal to 100% of the amount invested. Early participants did receive money, prompting thousands of other people to invest millions of dollars.

In the early 2000s, when information about the scheme became public, Musingku fled to his native Bougainville. Journalist Gorethy Kennett told ABC Australia that in 1998 she invested in U-Vistract money her parents had given her to pay for her education. After learning of Musingku's death, she said her money was probably no longer recoverable.

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Self-proclaimed kingdom

After returning to the island, Musingku called himself King David Peii II. An entity formed around him with an armed force, a banking system and a local currency, the Bougainville kina (BVK). The Papua New Guinea government later declared this currency illegal.

In 2026, Musingku survived an attack by fighters linked to Bougainville's legally recognized government. Four of his guards were killed, while he sustained a gunshot wound to the neck. In a statement after his death, his supporters promised to return money to investors.

At the same time, Anthony Regan, a longtime adviser to the Autonomous Bougainville Government, told ABC Australia that the money had already been spent and that payments under the scheme had effectively stopped in the late 1990s. He also said it was unknown who would lead Musingku's supporters next and what would happen to the armed groups associated with him. Musingku was reportedly about 60 years old.