defraud
verb [ T ]
LAW uk/dɪˈfrɔːd/ usto take money or goods illegally from someone by deceiving them:
defraud sb of sth An architect and two surveyors defrauded a charity trust of £3.5m by invoicing it for work they did not do and by inflating fees in building contracts.
The police made a number of arrests at the company's head office in connection with a conspiracy to defraud investors.