1775-85; back formation from swindler < GermanSchwindler irresponsible person, promoter of wildcat schemes, cheat, derivative of schwindeln to be dizzy (hence dizzy-minded, irresponsible), defraud, equivalent to schwind- (akin to Old Englishswindan to languish) + -(e)l--le + -er-er1
outswindle, verb (used with object), outswindled, outswindling.
1774, from Ger. Schwindler "giddy person, extravagant speculator, cheat," from schwindeln "to be giddy, act extravagantly, swindle," from O.H.G. swintilon "be giddy," frequentative form of swintan "to languish, disappear;" cognate with O.E. swindan, and probably with swima "dizziness." Said to have been introduced in London by Ger. Jews c.1762. swindle is a back-formation attested from 1782 as a verb, 1833 as a noun.