Speed was a factor in the death of actor Paul Walker, according to police

The Los Angeles County Sheriff's Department says speed was a factor in the one-car crash in the community of Valencia. Deputies found a red Porsche engulfed in flames when they arrived Saturday afternoon.

Roger Rodas, a friend of Walker's, was the driver of the car and also owned a sport car dealership. The Porsche crashed into a light pole and tree and burst into flames. The downed light pole had a speed limit sign of 45 mph.

According to the LA Times, the single-vehicle crash occurred about 3:30 p.m. in the 28300 block of Rye Canyon Loop. Deputies from the Santa Clarita Valley Sheriff's Station and the Los Angeles County Fire Department arrived to find a vehicle engulfed in flames. Two people in the vehicle were pronounced dead at the scene. The cause of the crash is under investigation, said Sheriff's Deputy Kim Manatt. Few details about how the crash occurred were available.

Representatives with Universal Pictures confirmed Walker's identity and released a statement:

"All of us at Universal are heartbroken. Paul was truly one of the most beloved and respected members of our studio family for 14 years, and this loss is devastating to us, to everyone involved with the Fast and Furious films, and to countless fans. We send our deepest and most sincere condolences to Paul's family."

At the time of his death, Walker, who also starred in Pleasantville and Varsity Blues, was working on the seventh film of the Fast and Furious franchise. The upcoming movie, Fast and Furious 7 was set to shoot in Atlanta this week.