>>9009167The lead singer from Rancid and a real estate agent friend of the singer (who was in on the scam) conned Phil into buying a bunch of shitty property that was presented as being a good investment but were in truth worthless.
Adding to this, the lead singer and the real estate agent had the brains to put into the contract for the sale that Phil couldn't talk about the sale in public, which was sold to Phil as him protection for everyone involved since as part of the scam, the guy from Rancid claimed to have an "inside scoop" on said "great properties" and "pulled strings" so "Phil got them under the table for a "bargain" price" that would get the real estate agent "in trouble" if Phil started bragging about the purchase.
As such, once Phil made the purchase and realized how badly he got scammed, he couldn't say a word because of the NDA he signed. And didn't try and fight it in court, for fear of the humiliation he would be subjected to if people found out. Especially since Phil had bragged about being "set for life financially" as his excuse for retiring from wrestling and that if it came out he was near broke, it would hurt any contract he could get due to companies realizing they had Punk by the balls and could exploit his financial problems to get him at a lower cost.
