Coast Guard officials say the Cessna 337 Skymaster took off from Millinocket regional airport Sunday afternoon.
It was headed to New Jersey when air traffic controllers in Brunswick lost contact with it shortly after one o’clock.
The Coast Guard then launched a search effort for the plane, which included help from Maine Marine Patrol, the Portland Fire Department, and the Falmouth Police Department.
Wreckage was spotted about 17 miles east of Cape Elizabeth.
When search crews arrived at the scene, they found a field of debris ":consistent with an aircraft": strewn across the water’s surface.
Coast Guard officals have identified the victims as Edward and Maryann Mainardi.
The National Transportation Safety Board is now investigating the crash.