American swimmer Ryan Lochte has been suspended 10 months by the United States Olympic Committee and USA Swimming for his late-night actions in Rio last month.

The ban will cost him a chance to swim at the World Championships next July.

Lochte claimed that he and three teammates were held up at gunpoint at a gas station on a night out after they had finished competing in Rio. However, after an investigation by Brazilian authorities it was found that the American foursome had vandalized a bathroom at the gas station and were confronted by armed security guards.

Lochte apologized for misrepresenting what happened to him and his teammates.

"Regardless of the behaviour of anyone else that night, I should have been much more responsible in how I handled myself and for that am sorry," Lochte said days afterward in a post on his Instagram account. "This was a situation that could and should have been avoided. I accept responsibility for my role in this happening and have learned some valuable lessons."

Since the Games ended Lochte has been dropped by all four of his sponsors. He is scheduled to compete on "Dancing With The Stars" beginning next week.