The Collaborative International Dictionary of English v.0.48:

Delude \De*lude"\, v. t. [imp. & p. p. Deluded; p. pr. & vb.
   n. Deluding.] [L. deludere, delusum; de- + ludere to play,
   make sport of, mock. See Ludicrous.]
   1. To lead from truth or into error; to mislead the mind or
      judgment of; to beguile; to impose on; to dupe; to make a
      fool of.
      [1913 Webster]

            To delude the nation by an airy phantom. --Burke.
      [1913 Webster]

   2. To frustrate or disappoint.
      [1913 Webster]

            It deludes thy search.                --Dryden.

   Syn: To mislead; deceive; beguile; cajole; cheat; dupe. See
        Deceive.
        [1913 Webster]

WordNet (r) 3.0 (2006):

delude
    v 1: be false to; be dishonest with [syn: deceive, lead on,
         delude, cozen]

Moby Thesaurus II by Grady Ward, 1.0:

36 Moby Thesaurus words for "delude":
   bamboozle, beguile, betray, bluff, cajole, cheat on, circumvent,
   conjure, deceive, diddle, double-cross, dupe, forestall, gammon,
   get around, gull, hoax, hocus-pocus, hornswaggle, humbug, juggle,
   let down, mock, outmaneuver, outreach, outsmart, outwit, overreach,
   pigeon, play one false, put something over, snow, string along,
   take in, trick, two-time