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First, I'd double check to make sure the recent CarFax actually shows what the dealer alledges. That being said, how does something like this happen? How long does it take for a "bad thing" to show up on a CarFax? And who reports it? The insurance company? DMV?
In your case, when did the car sustain the "frame damage?" And when did you run the CarFax before you bought the car? What was the timespan between those 2 events?
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1987 Venetian Blue (looks like grey) 930 Coupe
1990 Black 964 C2 Targa
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