UPDATE: NTSB releases preliminary report of helicopter crash that killed co-founder of Clayton Homes

The National Transportation Safety Board has released its preliminary report of a fatal East TN helicopter crash that killed Clayton Homes co-founder Joe Clayton.

The accident happened on the evening of Aug. 3 at a portion of the Tennessee River in Knoxville. A narrative says the pilot was preparing to hover then land near property close to the river, when he added power and the copter started to settle. The pilot then pulled maximum power but the helicopter descended further then landed in the water. Joe was killed in the crash, while his brother Jim and two others escaped the crashed copter.

An exact cause of the accident was not given and it remains under investigation.