Defrauds, as an investor

• Chisels
• Swindles (out of)
• Hornswoggles
• Takes for a ride
• Pulls a switcheroo on, perhaps
• Scams, in a way
• Takes to the cleaners, so to speak
• Takes for a ride, so to speak

Wiktionary Word definitions in Wiktionary
vb. (en-third-person singular of: bilk )