Aug 24, 2016 10:19 AM EDT By Anita Valencia, UniversityHerald Reporter

The US Olympic swimmer, Ryan Lochte, previously apologized for exaggerating the robbery incident that happened in Rio. Lochte previously claimed that he and his team mates were heading to the Village when 'robbers' pointed a gun on the group - asking for money.

Later on, it was revealed that he and his friends were in a gas station and misbehaved. They were was asked to pay for the damages after breaking the bathroom's soap dispenser, door, and mirror, News Australia reported. Regretting the incident, 32-year-old Lochte made a public apology in an interview on Today. He said that he would be more careful about his statements in the future. He also considered himself as immature, Time wrote.

Ryan Lochte Olympics scandal got him ditched by Speedo, Ralph Lauren and more

Unfortunately, Speedo USA and Ralph Lauren do not accept Lochte's apology. In a statement, the swimsuit maker officially ended the sponsorship for Lochte. The $50,000 supposedly given to Lochte, will be donated to a charity in Brazil.

According to Speedo, the company cannot accept the athlete's behavior that contradicted the brand's value. The company also stated that Lochte should move forward and learn from this experience, BBC reported.

Lochte has nothing more to say but to accept the company's decision and thanking Speedo for the opportunities.

In addition to that, clothing company Ralph Lauren and Japan's Airweave also made statements 'after a full consideration'. The mattress company that sponsored the US Olympics said that the partnership has ended between the two.

Ralph Lauren removed the swimmer's pictures from the website and did not plan to renew the endorsement deal. Syneron-Candela also ended its partnership with Lochte in a statement, saying that the company holds high standards of their business partners.

Lochte won a gold medal in Rio Olympics 4 x 200 freestyle relay. He has collected 12 medals so far and is currently one of the most successful swimmers.

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