Admits to swindle with grants (8)

I believe the answer is:

concedes

'admits' is the definition.
(conceding is a kind of admiting)

'swindle with grants' is the wordplay.
'swindle' becomes 'con' (con is a kind of swindle).
'with' is a charade indicator (letters next to each other).
'grants' becomes 'cedes' ('cede' can be a synonym of 'grant').
'con'+'cedes'='CONCEDES'

'to' is the link.

(Another definition for concedes that I've seen is " Admits to be true or yields".)

I've seen this clue in The Telegraph.

Want a hint initially instead of a full solution? Install my app