This would happen occasionally in Rome. Even the highest echelon of society could be demoted quite rapidly to the position of a gladiator or house slave, depending on the circumstances. Once you were there, you were not given special treatment. In societies where hierarchy is everything, demotion and promotion happen rapidly. You either become forgotten, or used as an omen of what happens when a person fucks up royally.

Hell, it's still like this today- high school cliques, publishing societies, politics, beauty pageants, celebrity status? You can go from being one of the most influential and respected members of a group/guild to a street sweeper with the spreading of one rumour. Tiger Woods, anyone? Whitney Houston (well, she was a crackhead...)? Various governors have had their careers destroyed because of adultery. It doesn't even matter, past a certain point, what good deeds they might have accomplished, society is (in large part) a here and now entity. Sure, in 100 years or so when a history book comes out, they might remember Person A for their accomplishments, but that is only after popular opinion has subsided (died, literally) and the information can be analyzed without the plebeian shadow of judgment.