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as in liposuction i.e. the removal of fat but used in regards to the removal or draining of fact and or substance from any given situation.
"Did you read that article about that congressman, man they totally lipoed the truth."

"They did a rewrite of my character and he ended up so lipoed, he was irrelevant to the story"

"The long weekend lipoed my bank account, I'm broke!"

"..then he woke up, and the bitch lipoed the apartment, Dude it was all gone!"
lipoed by Gummer Stumps October 10, 2010
Related Words
The feeling of being completely trashed after the consumption of -insert alcoholic shot here- with lime.
Went to the club and got so limed that I punched this kid in the mouth.

I grabbed a bunch of limes from that burger joint, let's do shots and get limed!
Limed by MakeItRayne November 3, 2013

LIMEDILLIGAF 

Look into my eyes do I look like I give a fuck.
When it comes to you and your new (insert whatever), I just have one word to say, LIMEDILLIGAF!
LIMEDILLIGAF by Randy Fitzwater August 19, 2007
'Limed' means to get files, usually music, for free from Limewire, instead of paying for CDs or legal downloads.
Bloke 1: Where did you get that album from?
Bloke 2: I limed it.
limed by E Man September 7, 2008
To have previously been amused enough to have the experienced pleasure not greatly enough to have laughed out loud.

To have previously Laughed In My Mind. Past Tense
"My mind was pleasured by your message. I just LIMMed a little."
limmed by Closer18 February 25, 2015
To be bluntly smacked out of left field with unexpected information
My lawyer really liloed me when he told me my wife was going to have to pay me alimony
Liloed by Sarcasm Specialist April 5, 2010