It's someone or some company that was convicted of creating and public spread an untrue and/or distorted story with the clear intention of harming and damage someone's reputation.
The term was first used to describe CNN after they being convicted in the case involving Nick Sandmann.
Also could be represented by CNF.

A cultural and aesthetic mind-state that prioritizes making money, even as an “underground” or “radical” creator. The work isn’t made for money, but it’s the money that matters the most.