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/Sounds like "FAH" (as in "far") + "toh" (as in "toll")/

Meaning

A shady deal, murky situation, or unclear mess, sometimes with connotations of deception. In Argentina, having un fato or saying "qué fato" points to something suspicious or tangled going on.

Examples

There's something fishy going on with the missing money from the register.

What's the deal with that guy, tell me everything.

Regional synonyms

Someone who complicates everything unnecessarily, takes forever to get to the point, or wraps simple things in layers of excuses and detours. Used in Argentina and Uruguay. The irony is that milonguero comes from milonga (tango dance hall), but in this sense it refers to someone who dances around the subject instead of just saying what they mean.