People are quick to throw around guilt, once that's in the room your reputation will be sullied forever as everybody still has this nagging "Well, he could still have done it" thought.
Case in point: The German teacher Horst Arnold. In 2001 a female coworker accused him of having raped her during a break at school. He denied the charges and in 2002 he was sentenced to 5 years in jail.
He served his time and, due to a series of random events, in 2008 it came to light that the female coworker, who got him into jail, has a rather long history of lying and misrepresenting facts.
In 2011 he was declared innocent, but he was denied rehabilitation into his job as a teacher and any monetary compensation for the time spent in jail. He fought for this until 2012, when he was found dead on the street due to cardiac arrest.