Two people have died and three others were injured in a boat accident in Lake Austin, Texas, authorities said Sunday. The boat rammed an object, believed to be a barge, causing it to sink.

The incident occurred early Sunday, Palmer Buck, division chief of Austin Fire Department, said, according to NBCDFW.com. Among the deceased was Shawn Hurwitz, a 50-year-old head of an investment firm in Houston. Hurwitz was steering the boat with two women and two other men on board at the time of the accident, police reportedly said. One person was pronounced dead at the spot and another at a hospital. Those wounded do not have life-threatening injuries.

According to investigators, only one person on the boat wore a life jacket, KVUE.com reported. While police did not reveal what led to the accident, Butch Vander-Woude, a camper at Emma Long Metropolitan Park, said he witnessed the incident.

"He had his bow light on, music real loud, and he had the boat at full speed," Vander-Woude reportedly said.

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