be busted

1. Also, get busted . Be arrested or turned over to the police, as in The gang members were sure they'd get busted . [Mid-1900s]

2. Also, get busted . Be demoted, as in If you're caught gambling you'll get busted to private . This usage originated in the military and still most often denotes a reduction in rank. [c. 1800]

3. Also, go bust . Become bankrupt, financially ruined. For example, Who knew that the brokerage firm would be busted ? [ Slang ; early 1800s] Also see under go broke .