They may lie, but they usually do not threaten to ruin you personally and financially.
In Florida, such a threat would be construed as extortion and expose you to a maximum sentence of 15 years in prison and a $10,000 fine. Not a good idea. -- Section 836.05, Florida Statutes.
Additionally, 17 states have criminal libel statutes. The States: Colorado, Florida, Idaho, Kansas, Louisiana, Michigan, Minnesota, Montana, New Hampshire, New Mexico, North Carolina, North Dakota, Oklahoma, Utah, Virginia, Washington and Wisconsin, along with Puerto Rico and the U.S. Virgin Islands.