I found a couple!

Velveeta Fudge
Easy fudge made with cheese.

1 cup (2 sticks) butter, softened
8 ounces pasteurized process cheese, Velveeta, cubed
1 1/2 pounds confectioners' sugar, about 5 cups unsifted
1/2 cup unsweetened cocoa
1/2 cup non-fat dry milk
2 teaspoons vanilla extract
2 cups coarsely chopped pecans or walnuts

In a large saucepan over medium heat butter and cheese cubes together, stirring frequently; remove from heat. Sift together confectioners' sugar and cocoa; add to cheese, mixing well. Stir in non-fat dry milk, vanilla and nuts. Turn into a 9x9x2-inch pan; chill until firm and cut into squares. Makes about 3 pounds of Velveeta Fudge.

OR FOUND THIS ONE TOO!:

Velveeta Fudge

3/4 lb. (12 oz.) VELVEETA Pasteurized Prepared Cheese Product or VELVEETA LIGHT Reduced Fat Pasteurized Prepared Cheese Product, cut up
1 cup (2 sticks) butter or margarine
6 squares BAKER'S Unsweetened Baking Chocolate
2 Tbsp. light corn syrup
2 pkg. (16 oz. each) powdered sugar (about 8 cups)
1 1/2 cups chopped PLANTERS Pecans
1 tsp. vanilla

Place Velveeta, butter, chocolate and corn syrup in large microwavable bowl. Microwave on HIGH 2 minutes; stir. Microwave an additional minute; stir until well blended.

Add chocolate mixture, in batches, to sugar in large bowl, beating with electric mixer on medium speed until well blended after each addition. Stir in pecans and vanilla.

Pour into greased 13x9-inch pan. Smooth top with spatula; cover. Refrigerate several hours or until firm. Cut into 96 (1-inch) squares.

Both called Velveeta Fudge; haven't tried either!
Hope this helps!
P.