I have been asked this a lot of times and I am in the mood, so I'll try to put as clearly as possible here.
There is if there fake. And this is the reason why.
People buy fake likes to give credibility to the page. But they don't understand that this negatively impacts their reach in the long run. Now let's consider two pages, Pages A & B. Page A bought 10K fake likes and Page B bought/earned through ads 10K real likes. Both then started making posts. Page B posts were well received by his fans as they were real and as a result, the page grew organically and so did the page's 'reach'.
Now Page A had all fake likes, so whenever a post was made, there was no interaction from the fans. Facebook considered the content from Page A to be inferior and dropped its reach thinking that the quality of content was poor. Page A tried buying some real likes as well but the damage was done already. So either he had the option to manually remove every single like, which is also not possible or get a certain amount of real likes that would completely overwhelm the effect of fake likes on his page.
In short, fake likes are terrible. If you want, go for targeted likes from Tier3 countries if looking credible is that important.
Disclaimer : I have a Facebook Ads service but this does not change the facts stated above.