• Ryan Lochte shows off his Olympic Gold for team USA in swimming.

Ryan Lochte shows off his Olympic Gold for team USA in swimming. (Photo : Harry How/Getty Images)

Ryan Lochte's drunken night with three other US Olympic swimmers cost him dearly. Lochte is accused of making fabricated reports of being robbed at a gunpoint. The ban that was officially confirmed on Sept. 8, suspended Lochte for a period of 10-months.

In a timeline report by SB Nation, US swimmer Ryan Lochte was suspended for 10-months on Sep. 8, after making false claims of being robbed at a gunpoint on the night he went drinking with three other swimmers at 2016 Rio Olympics. It was also noted that Lochte will face suspension until mid-2017, prohibiting him from participating in next year's Budapest world championship.

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The Olympic gold medalist made claims in Rio that he was mugged at a petrol station in Rio with a weapon pointed at him. However, after the footage from the petrol pump was released, Lochte along with the other three swimmers from his team - Gunnar Bentz, James Feigen and Jack Conger - were seen vandalizing the bathroom. They were asked to pay for the damage they did.

As the situation came to the light, Rio citizens were particularly resentful of Lochte for portraying their city negatively. As Lochte faces maximum sentence for his bogus report, the other accomplices faced a ban of four months each, The Washington Post reported.

In his account, Lochte admitted to incorrectly exaggerating the story. He adds that if he didn't magnify the incident from that night, they wouldn't be in this mess. When asked about whether he was a vandal or a victim, he explained that one can look at it the way they like. He added that people can call it extortion or payment for vandalism damages but there was a gun involved and demand for money at gunpoint.

After the controversy gained traction following the suspension, Lochte lost some of his sponsors, including Polo Ralph Lauren, Speedo, Gental Hair Removal and AirWeave. All these companies have reportedly severed their ties from the swimmer.

As if this wasn't enough, he is also charged by Brazilian police for false claims of robbery. This irresponsible action can either attract prison time or heavy penalty.