Yes, FABRICATES is a Scrabble word!

Letter values in Scrabble US: F 4, A 1, B 3, R 1, I 1, C 3, A 1, T 1, E 1, S 1.

Is it a valid word?

FABRICATES is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

put together out of artificial or natural components or parts; He manufactured a popular cereal"
make up something artificial or untrue

Also: cook up, make up.