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The Collaborative International Dictionary of English v.0.48:

Bilk \Bilk\, v. t. [imp. & p. p. Bilked; p. pr. & vb. n. Bilking.] [Origin unknown. Cf. Balk.] To frustrate or disappoint; to deceive or defraud, by nonfulfillment of engagement; to leave in the lurch; to give the slip to; as, to bilk a creditor. --Thackeray. [1913 Webster]