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1.
A term coined by an English Sixth Form student by the name of Henry on May 19th, 2006. The term is used to describe a broadband ISP or broadband service that may appear to be of high quality but, in actual fact, fails to meet even the lowest of expectations.
WTF? Why won't this stupid youtube video load? This school has some fraudband, man.

AOL? Dude, that's just 100% fraudband.
by Ali Amir May 19, 2006