A travel agency co-owned by missing Britons Juan Cifuentes and Farooq Abdulrazak has confirmed that Mr Abdulrazak has died.
The business partners, from north London, went on a work trip to Denmark on Saturday and were expected to return to the UK on Sunday evening, but failed to do so.
The Metropolitan Police says it is investigating whether the discovery of two bodies in a burned out car in Sweden is related to the disappearance of the two Londoners earlier this week.
Empire Holidays’ official Instagram account posted a message saying: “It is with a heavy heart that we inform you that the owner of Empire Holidays [Farooq] has sadly passed away.”
The families of both men have issued a plea for information, with fears they are the people whose bodies were found with gunshot wounds in an industrial area of the city of Malmö on Sunday.
Welwyn Garden City FC has also paid tribute to Mr Cifuentes, who used to play for the club, calling him a “great person”.
Posting on X, formerly Twitter, a spokesperson for the Hertfordshire club said everyone there “is saddened and shocked”.
“Juan was part of our double-winning squad in 2014-15. A very good player and great person.
“We send our condolences to all his family, friends and ex-teammates. RIP Juan.”
Swedish police said the victims were shot on Sunday, with the Toyota Rav4 then set on fire.
Police say they are still working to identify the bodies and have interviewed several witnesses.
A Swedish police spokesman said: “The two people who were found dead in a burned-out car on Sunday afternoon have not yet been identified.
“The bodies are being examined by forensic medicine. The incident is currently being investigated as a murder.”