Green’s Dictionary of Slang

1. to cheat.

1864, 1867, 1870		Hotten Sl. Dict.
1873		Sl. Dict.

2. (US) to catch in the act of committing a crime.

1924		G. Henderson Keys to Crookdom 415: Rank. To blunder. To fizzle. To rank a job. To get a rumble.
1936		L. Duncan Over the Wall 335: They’ve ranked us, and we’ve got to plant – muy pronto.
1952		C. Hamilton Men of the Und. 324: Rank, [...] 2. To interfere with the commission of a crime.
1962		Ragen & Finston World’s Toughest Prison 814: ranked – To be seen or recognized while committing a crime.

3. (US) to betray, to let down.

1924		G. Henderson Keys to Crookdom 71: Many a good job was ‘ranked’ or ‘rumbled’ (spoiled) because the gunpowder did not have sufficient explosive force.
1931		Irwin Amer. Tramp and Und. Sl. 154: Rank.–To inform, generally when this is done inadvertently, on a pal. To be ranked is to be recognized or to be seen while committing a crime.
1949		Monteleone Criminal Sl. (rev. edn).
1952		C. Hamilton Men of the Und. 324: Rank, I. To double-cross.
1969		‘Iceberg Slim’ Pimp 151: Don’t worry ‘Top.’ I won’t rank us.
1989		J. Morton Lowspeak.