Whenever you and a buddy exchange items and you give him something and he doesn't give you anything in return and flees the scene, and then you are caught and can't chase or you
beat the hell out of his ass
First seen in
Indiana Jones and the
Raiders of the Lost Ark in the beginning when Satipo treasure tricks Indy and is killed because of his greed and his horrible luck.
The image below shows Satipo dropping the whip he was to give to Indy, and taking his new idol and running through the exit.
Examples-
1.
Indiana Jones was Treasure Tricked by Satipo because he lost the Idol and didn't receive his whip.
2. My homie Daddy B treasure tricked me when he took the weed out of my hand and didn't give me the promised $3,000
3. I participated in treasure tricking when I was 5 and took an extra
slice of pizza from my brother's plate and didn't let him borrow the 3DS
like I said I would