Pickpocket's account of a fool (8)
I believe the answer is:
dipstick
'a fool' is the definition.
(I've seen this before)
'pickpocket's account' is the wordplay.
'pickpocket's' becomes 'dip's' ('dip' can be a synonym of 'pickpocket').
'account' becomes 'tick' (I am not sure about this - if you are sure you should believe this answer much more).
'dips'+'tick'='DIPSTICK'
'of' is the link.
Can you help me to learn more?
(Other definitions for dipstick that I've seen before include "Wally" , "Oil gauge" , "Device for checking oil level" , "Engine oil measurer" , "Rod for measuring depth of liquid contents" .)