I knew someone who worked as a "reputation hit man". I don't know what his rate is today, but back in the 2000s, he would, for $500, impersonate and defame a person all over the internet. Most of his clients were corporate executives trying to take out competitors for promotions. He may be out of that business, but it still exists and the practice is widespread.
Google knows about this problem, and in the EU, there is a right to be forgotten. If you're American, though, there could be "Google dirt" about you or about someone with the same first and last name, keeping you from getting decent jobs, and you probably wouldn't even know.