The reality TV star told U.S. team officials and reporters he and three fellow American swimmers were mugged at gunpoint by thugs dressed as cops in Brazil, prompting a major investigation.

It has since been determined Lochte and his teammates were apprehended by security guards at a Rio de Janeiro gas station following an alleged vandalism report.

The six-time gold medalist has apologised for telling tall tales, but that wasn't enough for officials at the U.S. Olympic Committee, who have suspended him for 10 months.

The other three swimmers involved in the Rio incident have also received suspensions, according to TMZ.

Lochte's punishment will not affect his upcoming stint on U.S. reality show Dancing With the Stars.