lootphoneticPhoneticPhoneticPhoneticPhoneticphoneticverb
1. (usually of large numbers of people during a violent event) to steal from
    (shops and houses)

    During the riot shops were looted and cars damaged or set on fire.
    Discipline quickly broke down after the city fell, and the invading soldiers
    were found to be looting and sometimes killing.

2. noun [U] Loot means money and valuable objects that have been stolen, esp. by an
    army from a defeated enemy.

    Napoleon's army took priceless works of art from all over Europe as loot.
   The men who robbed the camera store are trying to dispose of the loot by selling it in the street.

This page is cited from Cambridge Dictionaries Online.  For the original, please visit
http://dictionary.cambridge.org/define.asp?key=loot*1+0