Dennis Rodman didn't just terminate his ex-business manager -- HE HUMILIATED HER -- saying she's a total failure who LIED about being a Harvard grad and may have stolen from him ... though she calls BS.
TMZ Sports has learned ... The Worm's lawyer Bradford Cohen just sent a SCATHING letter to Peggy King ... officially terminating her as Rodman's financial lady and demanding she hand over all of her records.