The big problem will come with the back taxes and fees.
I'm sure the school did not want to pay taxes on their little project, so they didn't.
If you want to use that VIN you will be on the hook for tax on a new bike $$$$$$.
Ebay is a good source for frames, should you be doing a "project". Enfield frames are common, and you only pay tax on the cost of the frame. Should you need to clean up the VIN a bit (heavy sanding and oxidation can make them hard to read
) Harbor Freight sells stamp sets.
I would NEVER encourage any illegal activity, or participate in any myself.
Got to run, black hellocopters coming.... Where is my tinfoil hat!