Er, how about the deserving student with a stellar academic background and outstanding college admission test score who was bumped from a seat by this fraud?
Fraud it is!
Not "fraud" (as you call it).
This "deserving student" is no different than a person who wants to buy a new car on the lot at a dealership, but then is unable to buy it because someone stole it the night before he got there. Yeah, it's too bad you can't buy the car you want ... but it wasn't stolen from YOU because you never owned it in the first place.