Steve Fossett's Plane Wreckage, Remains Found

The discovery of the ID cards, cash and clothing by hiker Preston Morrow helped searchers close in on the right area and, according to Sheriff John Anderson, an aerial search spotted what appeared to be wreckage in the Inyo National Forest near the town of Mammoth Lakes, late Wednesday.

Ground crews were dispatched, and they confirmed it was the single-engine Bellanca plane Fossett was flying on the day he disappeared. He had borrowed the plane from hotel magnate Barron Hilton, for a pleasure flight.

No human remains were found at the site, which obviously makes sense, as the belongings found earlier had to reach that site somehow.

"There must be some reason those things were found there," Sheriff Anderson said at a news conference late Wednesday.