Sponsors flee Ryan Lochte after 'robbery' debacle in Rio

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Speedo and Ralph Lauren among sponsors that dropped Lochte like a hot potato after the Rio fiasco

Major brands dropped Ryan Lochte en masse on Monday, in the wake of an incident at the Rio Olympics where the swimmer misrepresented a claim that he and his teammates were robbed at gunpoint.

In a bizarre twist to a story that broke last week, Lochte admitted that he may have exaggerated his initial account about being held up in Rio de Janeiro. Local police countered his claims, saying that Lochte and his teammates had actually been confronted by private security guards after damaging a gas station bathroom.

In response, a number of high profile endorsers have broken ties with the swimmer. Speedo USA was the first of three sponsors to announce that it is ending its sponsorship of Lochte.

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