Hey guys I just grabbed my third B5 A4 for 600$. Theres a crazy knock coming from the engine and smoke POURS from the tailpipe. I know the turbo is blown just from driving it. And the smoke is way worse than it is in the video. But here it is! I hope anyone could have any ideas cause Im stumped http://https://youtu.be/CUQtxB62nqE

 

Your link is broken, but it sounds like the rings are bad, the main bearings may be spun as well and you may have some bent valves.