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Ryan Lochte loses all four commercial sponsors after Rio Olympics incident

Swimwear maker Speedo USA says it will end its sponsorship of U.S. Olympic swimmer Ryan Lochte. (Video: Reuters)

U.S. swimmer Ryan Lochte’s four commercial sponsors dropped the 12-time Olympic medal winner Monday in response to the incident eight days ago in which he falsely claimed he and three teammates had been held up by armed robbers at a Rio de Janeiro gas station.

The decisions by Speedo, Ralph Lauren, Airweave and Gentle Hair Removal came after Lochte admitted to “over-exaggerating” the armed-robbery claim, an assertion that overshadowed much of the second week of the Summer Olympics that concluded Sunday.