The deceased has been identified as Lalit Kumar Dolaria.
Inspector General R S Meena said that Dolaria, resident of Gwalior, left for Noorabad on his motorcycle yesterday morning.
After reaching Sak river near Noorabad, he parked the motor-cycle on the bridge, hanged his jacket on it and jumped into the river, he said.
Police found a suicide note from the pocket of Dolaria's jacket which revealed that he took the extreme step after his name surfaced in the scam.
In his suicide note, Dolaria advised his wife to remarry soon, police said, adding, the matter is being investigated.