Speedo cut ties with Ryan Lochte after his false Rio robbery drama

Speedo USA will no longer sponsor Ryan Lochte following revelations that the swimmer fabricated a story about being robbed at gunpoint during the Rio Olympics. The swimwear brand announced the news Monday morning, stating that the company “cannot condone behavior that is counter to the values this brand has long stood for,” and saying that it hopes the U.S. swimmer “learns from this experience.”
Lochte admitted Saturday that he exaggerated a story about being robbed at gunpoint in Rio de Janeiro with three other American swimmers, while authorities debunked the whole account as an outright lie. Brazilian sources told ABC News on Thursday that surveillance video from that night actually showed one of the swimmers fighting with a gas station security guard and causing damage to a restroom.