The 32-year-old claimed to have had a gun pointed to his head in a robbery, by men with a police badge.
Lochte: If I hadn't been drunk and immature, none of this would have happened
It has since emerged that this story was inaccurate at best, and it was claimed that Lochte and his friends had lied over the robbery, and had in fact been involved in vandalism at a petrol station.
Three Paralympic golds in a night of shock and awe for British swimmers
Lochte later gave a nuanced apology for his actions once he returned to the United States.
As a result of this, his sponsor, Speedo, have cancelled their contract with him, stating: "We cannot condone behaviour that is counter to the values this brand has long stood for."
Unfortunately for Lochte, it doesn't end there.
US swimmer Lochte gets 10-month suspension over Rio scandal
Chinese swimmers react on Rio's disappointment