A man found shot dead in the Texas town of Port Aransas is believed to be former Christchurch man Christopher Tiensch.

South Jetty News, in Port Aransas, quotes local Police Chief Scott Burroughs as saying the death is likely to be ruled a homicide and as yet police don't have any suspects.

Chief Burroughs would not say how many times the 43-year-old had been shot or which part of his body had wounds.

Tiensch is the former chief executive of Plus SMS, a failed telecommunications company.

Police began searching for Mr Tiensch, an American, late last week after he disappeared while visiting Port Aransas.

A helicopter spotted his body while flying over a remote part of nearby San Jose Island, which is accessible only by boat or small plane.

Investigators say his car is still in the parking lot of his motel, and many of his personal effects, including his wallet and cell phone, are still in his room.

In April last year Plus SMS was forcibly removed from NZAX, where shares in smaller companies are traded.

The NZX's regulatory arm advised the market that it would be removed after repeated rules infringements, failure to comply with a ruling from its disciplinary tribunal, and its inability to meet its financial obligations to the NZX.

Plus SMS backdoor-listed in 2005 using the shell of failed retailer RetailX but it didn't take long for it to come under the eye of the regulators.

The Securities Commission began investigating the company in September 2006 after Plus SMS admitted making false statements to investors. Founder Garry Donoghue resigned and handed back $10 million.

In 2009 the entire board accidentally resigned and then reinstated themselves. The company failed to file its half-year results and blamed it on the departure of its chief executive officer and chief financial officer.