Source : Webster's Revised Unabridged Dictionary (1913)

Fleece \Fleece\, n. [OE. flees, AS. fle['o]s; akin to D. flies,
   vlies .]
   1. The entire coat of wood that covers a sheep or other
      similar animal; also, the quantity shorn from a sheep, or
      animal, at one time.

            Who shore me Like a tame wether, all my precious
            fleece.                               --Milton.

   2. Any soft woolly covering resembling a fleece.

   3. (Manuf.) The fine web of cotton or wool removed by the
      doffing knife from the cylinder of a carding machine.

   {Fleece wool}, wool shorn from the sheep.

   {Golden fleece}. See under {Golden}.

Fleece \Fleece\, v. t. [imp. & p. p. {Fleeced}; p. pr. & vb. n.
   {Fleecing}.]
   1. To deprive of a fleece, or natural covering of wool.

   2. To strip of money or other property unjustly, especially
      by trickery or fraud; to bring to straits by oppressions
      and exactions.

            Whilst pope and prince shared the wool betwixt them,
            the people were finely fleeced.       --Fuller.

   3. To spread over as with wool. [R.] --Thomson.

Source : WordNet®

fleece
     n 1: the wool of a sheep or similar animal
     2: tanned skin of a sheep with the fleece left on; used for
        clothing [syn: {sheepskin}]
     3: a soft bulky fabric with deep pile; used chiefly for
        clothing
     4: outer coat of especially sheep and yaks [syn: {wool}]
     v 1: rip off; ask an unreasonable price [syn: {overcharge}, {soak},
           {surcharge}, {gazump}, {plume}, {pluck}, {rob}, {hook}]
          [ant: {undercharge}]
     2: shear the wool from; "shear sheep" [syn: {shear}]