Green’s Dictionary of Slang

to hand whatever one has just stolen to a confederate or girlfriend.

1839		H. Brandon Dict. of the Flash or Cant Lang. 162/1: Copbusy – to hand over the booty to another at the time to prevent its being found.
1857		‘Ducange Anglicus’ Vulgar Tongue.
1859		Matsell Vocabulum 21: copbusy The act of handing over stolen property by a thief to one of his pals for the purpose of preventing its being found on him if arrested.
1881		Trumble Sl. Dict. (1890).
1895		Crowe Aus. Sl. Dict. 20: Cop-busy, a thief handing over the plunder to a confederate so as to escape the law.