Volvo: Volvo S70 Turbo leaking oil, wheel sensors, volvo s70

Question
Hello,  I have JUST bought a 1997 Volvo S70 Auto LPT. It seems to be loosing LOTS of oil. When looking underneath the car, the oil is going all under the car towards the back, And on the road. I have been reading the passed history and have found somthing and am not sure if this is anything related. Its sais  Oil return pipe from turbo is bent and not sealing correctly. Siliconned in, Advise needs new pipe and seal     Do you think that this is the problem? The oil seems to be comming from the bottom back part of the engine. Not knowing what a turbo unit looks like I have no idea.    Also, My ABS and TRACS lights are on but sometimes go off. What does this mean?    I hope someone can help. I alerady love this car I do not want it to become a waste of money.    Many thanks  John

Answer
John,
You can start by having the lower area of the cars engine cleaned. Run the car up in the air with the proper amount of oil in the engine. Watch and look to see where the oil is coming from. Yes I have seen the turbo return line seal leak and also the rear main engine seal. Another area of many leaks is the oil cap seal. If the turbo return line is bent it could also be the cause of your leak. You will need a good inspection to locate the area of the leak.
ABS and TRACS light should have a code stored in the control unit. Read the codes and I will bet you will have code(s) that will state rear wheel sensors. It is known that the PC board in the ABS/TRACS control unit crack in a certain area and give out those codes stated above. If that is the case a new control unit is in order.