Bougainville Kina Illegal !
Governor of the Bank of PNG Loi Bakani has advised the public not to accept or conduct any transactions using a currency called “Bougainville Kina”. It is illegal.
In a public notice today, Mr. Bakani said the currency “Bougainville Kina” was introduced by a Noah Musingku, through the dealings of U-Vistract and is not recognised by the Bank of PNG.
Under Section 59 of the Central Bank Act 2000, the Bank of PNG is the only authorized institution mandated to issue PNG currency Notes and Coins in the country.
Bougainville Kina cannot be used as it is not legal tender in Papua New Guinea.
An increasing number of inquiries reach the ESBC since fall 2011. All concern the so called "Bougainville Kina".
Please help us to acquire more indepth information about the Bougainville Kina scam!
Please tell us…
…who told you about “Bougainville Kina”?
…where did you find promotional material or articles about “Bougainville Kina”?
…if you have contacted the fraudulent Bank of Me’ekamui (IBOM)?
…if you did contract in “Bougainville Kina”?
…if you already did contact the police or other financial supervisory boards ? Did they respond to your call?
Please help us to dry out this scam and send an email to us: bougainville-kina-scam(at)bougainville-copper.eu
To say it quite clearly: The "Bougainville Kina" is simply a product of fantasy of a notorious conman named Noah Musingku, who hides with his friends in the jungle of Southern Bougainville. Musingku, calls himself "King Pei II". A couple of years ago he created a money scheme called U-Vistract. The people who invested lost all their savings. Musingku is supported by duboius individuals in the United States of America who - amongst others - host his site www.ibom.biz (International Bank of Meekamui).
Musingku also achieved to print his own "money" : the Bougainville Kina. This currency is even not worth the paper it is printed on.
The ESBC strongly advise not to entertain any business relations with IBOM or one of their representatives. If not: Be sure to loose your money! Please contact immediately the commissioner of fraud division in the nearby criminal investigations department for further legal steps.
The fake Bougainville Kina look like this:
Noah Musingku or King Pei II
Watch here an interesting "Journeyman's Pictures" report from 2006 showing conman Noah Musingku at work:
Please click here to learn more about Musingku's criminal activities !
Source: ESBC Research
The Shanghai Connection
The ESBC is highly alerted by increasing activities to promote the fake currency "Bougainville Kina" on international financial markets.
On May 2oth, 2012 we found this text below on the homepage: http://de.gbp.cer24.com/eur/?q=bougainville%20kina%20currency%20forex .
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The ESBC consider this information as fraudulent. We confirm our WARNING not to get in contact to these people.!
The contact form links to a Chinese company with the domain name www.liaboc.
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Bill Name............ Yunfei Shi
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American national held with 1.6million in ‘illegal’ currency
PAPUA New Guinea authorities are holding an American man who tried to smuggle into Bougainville 1.6 million Bougainville kina from the United States on Saturday.
American citizen Barry Keith Webb (pictured) flew in from Manila on Air Niugini flight PX 011, which arrived at 5am on Saturday with bookings to transit to Buka on Air Niguini flight PX 251 the same day. Airport authorities detained Mr Webb after going through his documents and baggage, which included a brief case full of newly printed Bougainville kina totalling 1.6 million.
The airport authorities consis-ting Customs, Immigration, Natio-nal Airport Corporation and Air Niugini alerted responsible government authorities including police and the central bank, who interrogated the man, who claimd to be an executive of the International Organisation of Economic Development (IOED).
The United States Embassy was also alerted and their officials were also present at the airport during the interrogation, which almost took four hours at the Jackson International Airport on Saturday morning.
According to Mr Webb, he was travelling to Bougainville on an invitation from authorities in Bougainville, specifically from the Corner Pinati Avenue, King Square, Tonu City.
He had in possession documents and a letter from those in Tonu, which he handed to Government authorities as proof.
In one of the documents which the Post-Courier is in possession of, Tonu City leaders wrote to Webb in November 12, 2013 advising him that he had won a permanent position to represent the central bank of Bougainville as the minister for international monetary relations.
American held with ‘illegal Bougainville Kina’
The letter was signed by a King David Peii II (pictured) as the head of state, Sir Peter Lising as the governor of the Central Bank and Roger Renaud as the secretary of State on his permanent appointment with details of his job descriptions.
"As the Minister for International Monetary Relations for the Central Bank of Bougainville to represent the Central Bank of Bougainville for the purpose of developing relationships internationally with Central Banks of other sovereign nations and /or commercial banks and additionally for the purposes of developing corresponding accounts and facilitating exchange relationships for Bougainville’s Kina (BVK) with other currencies worldwide," they advised Webb.
Under this decree, your responsibilities shall include, but not be limited to the following:
- OPEN accounts in other central banks for the purpose of facilitating relationships with those sovereign nations;
- ACT as primary signatory in the establishing and maintenance of said accounts;
- MAINTAIN relationships with the central banks where accounts are located;
- FACILITATE contracts for exchange of Bougainville kina with other currencies;
- ACT as facilitator and/or signatory in the process of the issuance and/or monetisation of any sovereign guarantee issued by the Government of Bougainville and/or the central bank of Bougainville;
- ACT as facilitator and/or signatory in the process of the development of the monetary system of Bougainville; and
- FULFILL any and all decrees issued under the authority of or by King David Peii II.
- But Bank of PNG Governor Loi Bakani told the Post-Courier last night that the money was illegal and that the central bank lawyers were looking at possible penalties and working on the charges to be laid today.
"The money is illegal. If you look at the 100 Bougainville kina note, it has the kina name on it but different features and pictures, therefore it is illegal," Mr Bakani said.
"Also the legal tender is in Papua New Guinea kina and the change of the design also has its own penalties."
Mr Bakani, who was also at the airport for the questioning, said the Bank Act was breached and he has instructed his lawyers to work on the charges to be laid on Mr Webb today, including other penalties.
Customs Commissioner Ray Paul confirmed the incident but said he is waiting for full details from all government authorities before he could comment.
He said the Customs office will hold a press conference today about the matter.
Immigrations officials also told the Post-Courier last night that Mr Webb would face penalties but said they would rather have the police and other authorities announce the consequences he would face today. Police advised they will respond today when they all meet to determine the next course of action.