I live near a couple of small airports. Small planes crash a lot.
Yes, which suggests along with the recent Cessna Caravan/Grand Caravan mishaps the likeliehood of yet another accident, which is also plausible deniability in the less likely event of a non-accident.
See:
Investigation of Cessna 208 engine failure and forced landing on Lake Burbury
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A previous generator failure led to electrical discharge damage (EDD) to the engine, resulting in its failure in-flight. EDD is a known problem with the Pratt and Whitney Canada PT-6 series turbo-prop engines fitted to this aircraft type. The ATSB has investigated similar events in Australia previously and the ATSB report cites 43 similar events reported worldwide since 1992. Some of these events have also been investigated by the US National Transportation Safety Board.
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http://www.atsb.gov.au/newsroom/2007/release/2007_037.aspx
Cessna engine failures due to EDD are evidently a known problem and risk. What is unknown and perhaps unknowable is whether or not this risk had any suspicious assistance in this particular instance.