Police in New Brunswick are probing the mysterious murder of Richard Oland, while his family and friends try to come to terms with the loss of the popular businessman.

Oland, 69, was found dead in his Saint John office last Thursday, with police quickly determining that he had died of foul play.

But investigators have yet to say how he was killed, despite a media report that suggested Oland was bludgeoned to death with an axe.

Oland was a member of the family that owns Moosehead Breweries Ltd., though he left the family business more than two decades ago.

Since leaving Moosehead, Oland had served as the director of several firms and had worked in the trucking business. He also helped bring the Canada Games to Saint John in 1985.

CTV's Atlantic Bureau Chief Todd Battis said Oland was a well-known and respected figure in Saint John.

"This is someone who devoted himself to his community for many decades and will be remembered as someone who fought the good fight for his city," Battis told CTV's Canada AM on Wednesday morning.

Battis said more than 400 people packed into a small chapel to pay their respects to Oland at a funeral service on Tuesday.

With files from The Canadian Press