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1.
Conjugation of the spanish form of Ustedes: "You all" plural. By simply adding the "B" to the formal form of spanish speech you are able to transform "Ustedes" into "BUstedes"

Meaning "You are all busted!"

Go green use less letters and save the environment using one less letter at a time.
Girl, I saw you and your crew last night at the club, you was Bustedes! That is for sure!
by Chocolate Brent October 16, 2011
 
2.
Roughly Translated "you busted", conjugation in spanish of the word busted. Minnesota origin
Yo man, she found your stash, bustedes man, bustedes.
by Dark Dr. Seuss August 04, 2004