His plan goes wrong when the kidnappers deviate from the plan and local cop Marge Gunderson (Mc Dormand) starts to investigate.
Produced on a small budget of million, Fargo was a critical and commercial success, with particular praise for its dialogue and Mc Dormand's performance.
The duo also won the Palme d'Or for Barton Fink (1991).
They have been nominated for thirteen Academy Awards together, and individually for one award each, winning Best Original Screenplay for Fargo and Best Picture, Best Director and Best Adapted Screenplay for No Country for Old Men.
In it, the board of a large corporation in 1958 New York City appoints a naive schmo as president (Tim Robbins) for underhanded reasons.
The film bombed at the box office ( million budget, million gross in the USA), even though it featured Paul Newman and Jennifer Jason Leigh.
It was their first film with cinematographer Roger Deakins, a key collaborator for the next 25 years.
The Hudsucker Proxy (co-written with Raimi) was released in 1994.