I dont think is a fraud, not only for this but because I do believe in evolution and throughout history, Centuries ago we have had myths and legends about them.
It has changed the way I see marine life. Its is so interesting and surreal. But
Mermaids could sure be a possible creature!
After all, the platypus is a mixture of animals, alive an is Real. So why not!?!
Wether it is true or not, I do think it is possible :)