swindle. 1  to cheat (a person, business, etc.) out of money or other assets. 2  to obtain by fraud or deceit. 3  to put forward plausible schemes or use unscrupulous trickery to defraud others; cheat. 4  an act of swindling or a fraudulent transaction or scheme. 5  anything deceptive; a fraud: This advertisement is a real swindle.