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fleece (n.)

"wool coat of a sheep," Old English fleos, flies "fleece, wool, fur, sealskin," from West Germanic *flusaz (source also of Middle Dutch vluus, Dutch vlies, Middle High German vlius, German Vlies), which is of uncertain origin; probably from PIE *pleus- "to pluck," also "a feather, fleece" (source also of Latin pluma "feather, down," Lithuanian plunksna "feather").

fleece (v.)

1530s in the literal sense of "to strip (a sheep) of fleece," from fleece (n.). From 1570s in the figurative meaning "to cheat, swindle, strip of money." Related: Fleeced; fleecer; fleecing.

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Definitions of fleece from WordNet
1
fleece (n.)
the wool of a sheep or similar animal;
fleece (n.)
tanned skin of a sheep with the fleece left on; used for clothing;
Synonyms: sheepskin
fleece (n.)
a soft bulky fabric with deep pile; used chiefly for clothing;
fleece (n.)
outer coat of especially sheep and yaks;
Synonyms: wool
2
fleece (v.)
rip off; ask an unreasonable price;
Synonyms: overcharge / soak / surcharge / gazump / plume / pluck / rob / hook
fleece (v.)
shear the wool from;
Synonyms: shear
From wordnet.princeton.edu