2003 Volvo XC90 T6 AWD Smokes and has P0234 Code. Bad turbo...

BAD TURBO - I went and looked at a XC-90 6T AWD today and the thing smoked like a steam engine train. It also did not have any power. Preformed like a red block. I checked for codes, it has a P0234 but no CEL. There was a dark spot under the truck, may be oil, the tail pipe has some wetness as well. While running no smoke came from the oil dip stick (when pulled) but when I turned the car off lots of this white smoke came out. -------------------------------------------------