Fans of the Late Late Show host, author, actor and stand up comedian Craig Ferguson use this term when he makes fun of somebody or something. Then he/she/it gets craiged.
"...poor larry king, got craiged again..."
Losing ones high-paying, high-profile job after getting caught trying to seduce an undercover cop in a bathroom.
Mike was craiged from his VP job after that airport bathroom sting operation.