What was the highest embarassment you've ever recieved from a friend?

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It was on friday afternoon sometimes last year at school that a friend who originally gave me a book some two weeks back to keep for him then claimed right on a walk way where i was chatting with some friends that i had taken the book without his consent. Insinuating that i stole the book & to make things worse,he refused shifting his ground with regards to his claims! It was pretty exasperating! Have you experienced any thing of such calibre before now? And what was your reaction like?