Elias Sorokin, a CEO of clothing store company KUCOONdesigns in Los Angeles, has been missing since last Tuesday.
Yesterday, Sorokin's truck was found torched in the Santa Cruz Mountains.
Police say someone has tried to use Sorokin's check card at stores in Santa Cruz County. Sorokin also apparently has a medicinal marijuana card. Investigators say he may be involved in the marijuana trade.
Police are not commenting on the possible marijuana connection.
The statement, which was written by his business partner Andrea Spratt on a page dedicated to his recovery, says Sorokin saw a friend in Santa Cruz on his way to meet an unknown third party.
Sorokin is described as 5 feet 9 inches tall, 150 pounds, with brown hair and brown eyes.