SAN FRANCISCO (CBS SF) – Police investigators examined a yacht that capsized and sank in San Francisco Bay during Fleet Week celebrations on Thursday after salvage crews were able to raise the vessel from the bottom of the bay, authorities said.

During the frightening incident, the yacht dump its 30 passengers into the chilly San Francisco Bay waters. Eight people including two children were hospitalized after the incident.

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Investigators are hoping the wreckage will allow them to determine why the boating accident took place.

Police said the boat captain could be facing charges for possibly overloading the boat. Photos of the vessel prior to it capsizing show the deck crowded with passengers, many not wearing life vests.

“The person can be facing charges for driving boat recklessly or negligently,” SFPD Officer Carlos Manfredi.

Eight passengers – including two young children – were rushed to the hospital after being rescued by the Coast Guard, San Francisco Fire Department and other boaters.

Investigators are trying to determine if the children had life jackets on and how many life jackets were on board in the first place. By law boats, have to have a life vest for every person onboard. Passengers under 13 years of age are required to wear one.

It all began on Saturday, around 4 p.m., when the 34-foot boat Khaleesi capsized about 100 yards off of Pier 45 in San Francisco, U.S. Coast Guard officials said.

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Coast Guard crews were able to rescue 20 people from the water. A San Francisco Fire Department boat crew rescued eight people, while good Samaritans rescued the two remaining victims, according to Coast Guard officials.

Some of the victims had become trapped under the hull, but bystanders, police, firefighters and Coast Guard crews rescued all 30 within 32 minutes.

Among the injured were two children who were initially listed in critical condition. One of the children, a 4-year-old boy, was initially found unconscious and was not breathing when he was rescued. Bystanders however were able to give him CPR before he was rushed to the hospital.

He has since recovered enough to be released back his parents care.

The Coast Guard monitored as the boat was pulled up Thursday to making sure no oil was spilling out.

The boat was recovered without any environmental impact.

The vessel was towed to Pier 39 where investigators will continue to inspect it. Police did not give a timeline as to when they would determine whether or not criminal charges would be filed.

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