Diyango Najarat (83) ended his life by slitting his throat, while his wife, Playviana Najarat (79), consumed poison, India Today reported.
According to police, the couple left behind a suicide note detailing their ordeal.
The fraudsters had contacted them via video call, falsely accusing them of involvement in a criminal case and claiming that their mobile number and ID proof had been compromised.
They initially demanded ₹5 lakh as a settlement fee, which the couple paid.
However, the threats and extortion continued, ultimately costing them over ₹50 lakh.
Both former employees of the Maharashtra Secretariat, the couple had no children or immediate family and did not share their distress with anyone.
The case was initially suspected to be a murder until investigators found the suicide note and examined their mobile phone records.
The bodies have been sent to Belagavi BIMS Hospital for post-mortem.
“We have accessed their bank accounts and are still calculating the total amount extorted. This is a serious matter, and a detailed investigation is underway,” a senior Nandgad police official was quoted as saying by India Today.