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a. The coat of wool of a sheep or similar animal.
b. The yield of wool shorn from a sheep at one time.
2. A soft woolly covering or mass.
a. A soft, warm, lightweight, usually synthetic fabric with a deep pile, used primarily for clothing and blankets.
b. A garment, especially a shirt or jacket, made of such fabric.
tr.v. fleeced, fleec·ing, fleec·es
1. To defraud of money or property; swindle.
2. To shear the fleece from.
3. To cover with a fleece or similar covering.

[Middle English fles, from Old English flēos.]

fleec′er n.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
References in classic literature ?
To gratify Jansenius I waived this objection, and only interfered to save him from being fleeced and fooled by an unnecessary West End middleman, who, as likely as not, would have eventually employed the very man to whom I gave the job.
What those cruel Romans did to our ancestors in the 2nd century AD the heartless energy barons will do to the old, weak and vulnerable today; namely, after being 'fleeced', many people will die because they won't be able to withstand and survive the harsh winter ahead.
The real fleecing I witnessed there this year was that of the gullible public who flocked in to be fleeced by cowboys who raced into the sunset with their wallets laden with public dosh.