To be lied to or stolen from when you least expect it.
Jerry: Hey have you seen my wallet?
Kramer: No man, but George was here earlier maybe he took it?
Jerry: Noooo. George is my mate. He wouldnt do that.
(George walks in)
George: Hey guys!
Jerry: Is that my wallet in your pocket!?
Kramer: Duuuuude, you just got Palaziol'd
(Jerry and Kramer bash the fuck out of George)