Cane was first thought to be Phillip by his then wife, Amber Moore. Amber has always been a woman who was persuaded by money, and becoming the center of attention. Even if the attention is of a negative nature. Amber researched Cane's history online, and made a connection that startled her. When she realized that she had hit on a goldmine, Amber went into action.
When Cane realized what Amber was up to, he dropped her so fast, if you missed an episode, you may have missed it altogether. Cane did not to accept the fact that he was a Chancellor. He was just a bartender from Australia, who was searching for his Mother, right? When he was introduced to the Chancellor family, they were so blissfully happy that their "Phillip" was home.
At this point, no one questioned if Cane was a fraud, especially since he declined hid trust fund. That put so much confidence in Cane, that Jill and Katherine were proud to welcome him into the family. But this week, the secrets came out.
The real Philip is alive. Philip used Cane to alleviate the pain that his family was feeling after his "death". After traveling from one foster home to another, Cain needed a new life. Philip presented an offer Cane couldn't refuse.
Cane kept his secret for a long time after after arriving in Genoa City. He was embraced into the Chancellor family, fell in love with Lily Winters, and was planning to have children. What he didn't plan on, was meeting Nina Webster. Nina's son with Philip, Phillip III, is ill, and needs information on his family history. Nina has always been suspicious of Cane's story, and after much digging, the truth came out. The real Philip walked in on the Chancellor picnic, and everyone was in shock. Phillip has a lot of explaining to do. Meanwhile Lily and Jill are devastated. They believed Cane’s entire story.
So what happens from here? Phillip is staying in Genoa City, due to the return of Phillip III. Cane is scrambling to get his family back, and his wife Lily. Don't look for Cane to leave right away. He has unfinished business.