On November 19, 1995, at 1330 eastern standard time, a Fleet One, N638M, was substantially damaged during a forced landing attempt near Holly Springs, North Carolina. The commercial pilot was not injured in the accident. The aircraft was being operated under the provisions of 14 CFR Part 91 by the pilot. Visual meteorological conditions existed at the time, and no flight plan had been filed for the personal flight. The flight departed Raleigh, North Carolina at 1310 and was destined for Pittsboro, North Carolina. The pilot stated that during straight and level flight the engine started to smoke. At about the same time, the pilot heard a noise, and the aircraft engine stopped producing power. At this time the pilot attempted a forced landing into a field. After landing, the aircraft's propeller caught the ground, and the aircraft nosed over in the field, resulting in substantial damage to the aircraft. During the post crash engine teardown it was discovered that the crankshaft had been broken.