LOS ANGELES , California ( CNN ) -- A man distraught because he could not find work shot and killed his mother-in-law , his wife and three sons and then killed himself inside a home in an upscale San Fernando Valley neighborhood , police said . Police say Karthik Rajaram left suicide notes taking responsibility for the murders of his family . Authorities said the man had an MBA in finance but appeared to have been unemployed for several months and had worked for major accounting firms , such as Price Waterhouse . The two-story rented home is in a gated community in Porter Ranch , about 20 miles northwest of Los Angeles . The shootings were discovered after 8:20 a.m. Monday , after a neighbor called police to report that the wife had failed to pick her up to take her to her job at a pharmacy , Deputy Chief of Police Michel Moore said . Ed Winter , assistant chief from the Los Angeles County Coroner 's Office , identified the suspect as Karthik Rajaram , 45 . Winter said the victims included Rajaram 's mother-in-law , Indra Ramasesham , 69 , and his 19-year-old son Krishna Rajaram , a Fulbright Scholar and honor student at UCLA . Watch police remove body from home » . Also dead were Rajaram 's wife , 39 , Subasari Rajaram , and their two other sons , 12 and 7 . Some of the victims had been shot more than once , and their identities were not immediately confirmed , he said . `` Due to the nature of their injuries , it 's been a little difficult , '' Winter said , adding that there were no signs of a struggle . Police first found the mother-in-law shot in her bed in a downstairs bedroom , Moore said . Upstairs , the couple 's eldest son was shot in the master bedroom ; the wife in another bedroom with a gunshot wound to the head ; the two younger sons in the bedroom they shared , both shot in the head . The 12-year-old was on the floor and the 7-year-old in bed , Moore said . Watch more on what police had to say about tragedy » . The suspect was also in that bedroom , a gun still in his hand . The killings are thought to have occurred after 6 p.m. Saturday , when the man was last reported seen , Moore said . Inside the house , police also found three letters , one to law enforcement acknowledging responsibility for the killings , a second to friends and relatives and a third that appears to be the suspect 's will , Moore said . `` He attests to some financial difficulties , and he takes responsibility for the taking of the lives of his family members and himself as a result of those financial difficulties , '' Moore said . Neighbors , family and friends told police that the suspect , who had not worked for several months , had said in recent days he was having had extreme financial difficulties , Moore said . One of the letters , intended for friends and marked `` personal and confidential , '' detailed his financial transactions that resulted in `` an unfortunate , downward spiral , '' Moore said . `` His narrative is one of talking about this tragedy befalling him and his contemplation of an available exit or solution , '' Moore said . `` One is taking his own life and the other is taking the lives of his family and himself . ... He talked himself into the second strategy , believing that was , in effect , the honorable thing to do . '' Moore said the several-page narrative appeared to have been written over a period of time . `` This was something that was not a spur-of-the-moment type of event , '' he said . Moore said it was clear to police that the family members were close and `` had an affection for each other . '' He said the parents had given up their master bedroom to their eldest -- who was spending the weekend home from college -- `` out of respect . '' `` This is a perfect American family behind me that has absolutely been destroyed , apparently because of a man who just got stuck in a rabbit hole , if you will , of absolute despair , somehow working his way into believing this to be an acceptable exit . '' No neighbors reported having heard gunshots , and there was no sign of forced entry at the house , Moore said . Rajaram was involved in a financial holding company as part owner `` at least , '' Moore said . There is no evidence he had had any history of mental difficulties , nor was there an indication he had sought counseling , Moore said . Neighbor Trish Harrison , who lives three houses from the crime scene , said the family had lived in the community for about a year , but kept to themselves and had little interaction with neighbors . The parents were from India , she said . The Los Angeles Unified School District was making arrangements for crisis counselors to visit the schools attended by the two younger sons . CNN 's Stan Wilson contributed to this report .
one of man 's three sons was Fulbright Scholar and honor student at the Los Angeles County Coroner 's Office . Officer speaks of man `` who just got stuck in ... absolute despair '' Father had MBA in finance but seemed to have been unemployed for 7 . Police : Man left One letters , including One taking responsibility for shootings .