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I'm guessing it is Mike Dumont at Dumont's Porsche. I saw his car up on the rack there awhile back after he first got it and was getting mods done to it.
from his description sounds more liked a burnt/dropped valve or piston ring damage... i've seen turbo's let go and for the most part they end up burning oil and making noise....
Happened to me 2 months ago. Pay $1x to replace, or around $2x for modded turbos. I have over 600hp at the wheels (TPC), had to get ICs and clutch too.