I'd say it's likely not a real story. Usually, when something is labeled as 'Fakes', it implies that it's fabricated or not based on true occurrences. However, it could still draw inspiration from real-life situations and themes to create an engaging narrative.
It depends. Sometimes what's presented as 'Fakes' might have elements based on real events, but it could also be largely fictionalized for entertainment purposes.
In general, 'Fakes' is not founded on a true story. It's crafted to engage and captivate the audience through fictional plots and characters. Though it could have some common themes or tropes found in real life, it doesn't have a direct connection to specific true events.