1999 F50 locked up

I have an F50 that is locked up at one point of the crank rotation. While rotating the flywheel you can hear and feel metal on metal contacting each other inside the engine crankcase. The flywheel can be rotated by hand approx 300 degrees in each direction to the point where it is locked up.

The issue started at spring start up. The engine started up and idled fine, the engine was then shut off and now this. The engine oil when checked was way overfilled from a carb leaking into the engine. Have drained all the oil out of the engine at this point.

I have the head off and the pistons and cylinders look good. I have the lower unit off as well.

Would anyone happen to have an idea what might have let go inside the engine to cause this? Note that the engine started doing this after it was shut off and didn't happen while it was running. Stumped for theories.

Appreciate your thought's.

For the benefit of others, here is an update.

The engine must have had quite a hydraulic lock from the crankcase being filled with fuel because cyl #2 connecting rod is bent so much the piston is not coming to TDC by about 1/4". The other cyl's don't seem to be effected but I guess I will have to try and find a spec to measure them.