Missing Executive's Body Found in New Orleans

HOUSTON - Police say a body found in the Mississippi River is that of a missing a Houston business executive who went missing over the weekend, the Associated Press reports.

Police believe Douglas Schantz, 54, is the victim described to FOX 26 News by search volunteers as a "white male wearing a suit." A company executive also said the body is that of Schantz.

The discovery was made just before noon Tuesday by volunteers from Texas Equusearch, a Houston-based organization led by Tim Miller. Equusearch volunteers found Schantz's body in the river, near the French Quarter.

Schantz, a top executive of a Houston energy company, was last seen leaving a bar on Bourbon Street in New Orleans. Security cameras recorded him a short time later walking through the French Quarter.

New Orleans Police Superintendent Warren Riley said Schantz, who left the Razzoo Bar and Patio about 2 a.m. Friday, was seen on security video walking on a 2-foot walkway by the river. The video evidence led police to no longer suspect foul play, saying it was "likely" Schantz fell into the river and accidentally drowned.

Miller said while the possible outcome is bleak for the missing executive, the discovery is why Equusearch exists.

"They don't understand what this means to us," Miller told FOX 26 News in an exclusive interview. "Some of the other searchers were going away, but we stayed."

About 30 detectives worked with volunteers in the search for Schantz using sonar equipment.

Schantz is the president of Sequent Energy Management, L.P.

For more about Schantz and his disappearance, visit http://www.myfoxhouston.com/dpp/news/local/100308-missing-douglas-schantz

Check back with MyFoxHouston.com for updates to this story as they become available. FOX 26's Melinda Spaulding is the only reporter from Houston on the scene and will deliver a live report on FOX 26 News at 5 and 5:30 p.m.