Mr Richardson turned up to work at RGM Financial Group in Moe as usual on Monday.

Two days earlier he had celebrated his 48th birthday.

The friend, who did not wish to be named, said Mr Richardson had not spoken badly of his colleagues at RGM.

Within half an hour of arriving at work he'd stabbed two of his bosses - RGM partner and Racing Victoria board member Pearse Morgan and accounting director Joe Auciello.

The friend had known Mr Richardson for 40 years and said he was an "exemplary" father, who doted on his two secondary school aged children and was a "down-to-earth lovely bloke".

"They are all in shock, the wife is shocked, the kids are shocked," he said.

"They can't understand what happened.

"He's never been in trouble in his life. None of us know why."

He said Mr Richardson had not exhibited any strange behaviour before the stabbing.

He added that Mr Richardson's family was "devastated" for the families of the injured men.

According to his LinkedIn profile, Mr Richardson joined RGM in 2014 after working at RetireInvest in Moe.

Mr Auciello, 31, was stabbed first, slashed to the neck and mouth.

Joe Auciello was airlifted to The Alfred hospital.

Mr Morgan, well-known in the racing industry and a lifetime Gippsland resident, told a friend from his hospital bed on Monday that he "heard a commotion" before seeing his colleague being "stabbed and stabbed".

"I saw my partner being stabbed and stabbed," he told his friend.

"I ran out and tried to intervene and then I went blank."

Mr Morgan, 58, was stabbed in his left eye, abdomen and arm, but was conscious.

Pearse Morgan, one of the victims in the Moe stabbing Photo: www.rgmgroup.com.au

Mr Auciello, captain of local soccer side Falcons 2000, was flown to The Alfred in a critical condition.

His condition was listed as serious but stable on Monday evening.

Mr Richardson fled the scene, his white shirt covered in blood.

He was found dead on the ground next to his car in Hayes Road in Newborough, a small town near Moe where he lived, having shot himself.

Police on Hayes Road, where Carl Richardson was found dead. Photo: Chloe Booker

Police investigate after a stabbing in Moe. Photo: Channel Nine

Inspector Dean Thomas said the attack was out-of-character, and did not believe threats or altercations had occurred previously in the office.

"It was very traumatic, everyone was severely stressed," Inspector Thomas said.

"They were all taken by surprise and everyone did what they could to survive and assist others

"We're just trying to piece it all together to understand the motive."

About 15 people were in the office at the time.

One of the victims ran to the service station next door to raise the alarm. Photo: Shaun Mallia/Latrobe Valley Express

The RGM office, next door to a Caltex petrol station in Moe. Photo: Courtesy of Seven News

Racing Victoria chief executive Bernard Saundry said Mr Morgan was awaiting surgery at Latrobe Regional Hospital on Monday night.

"Our thoughts and best wishes are with Pearse, his partner Sonia and the Morgan family following this tragic event," Mr Saundry said.

"I know the racing industry will join me in wishing him a speedy recovery. Pearse is a highly valued member of the Racing Victoria Board and we look forward to welcoming him back to duties as soon as his health permits."

The investigation is ongoing.

Nearby schools, including Moe Albert Street Primary, went into lockdown for a short time as police established two crime scenes in the town..

Lifeline 13 11 14. Beyond Blue 1300 224 636.

- with Sam Darroch, Latrobe Valley Express.

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