The airplane was destroyed when it impacted water and terrain at 1328 Central time while maneuvering to land at the end of the Part 91 positioning flight. The captain and first officer sustained fatal injuries. Visual conditions prevailed. Preliminary ATC and radar data revealed the flight was cleared for a visual approach to Runway 16, followed by a right traffic, circle-to-land approach to Runway 34. Radar data show the airplane entering a right traffic pattern for Runway 34. Several witnesses observed the airplane on downwind and on base leg, and entering a right turn for final approach. During the turn to final approach, the airplane was observed to enter a 90-degree bank, roll inverted and enter a nose-down descent toward terrain.