Ryan Lochte loses four endorsements amid Rio scandal

Ryan Lochte lost four endorsement deals on Monday in the wake of the disgraced American swimmer admitting to exaggerating what he claimed was an armed robbery in Rio de Janeiro.

Speedo was the first to drop its long-standing sponsorship of Lochte on Monday as the swimwear apparel company also announced it would donate a $50,000 portion of Lochte's fee to Save The Children.

Ralph Lauren, Syneron Medical Ltd. and mattress supplier Airweave also cut ties with the 12-time Olympic medalist.

"While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we cannot condone behavior that is counter to the values this brand has long stood for," Speedo said in a statement. "We appreciate his many achievements and hope he moves forward and learns from this experience."

Syneron Medical Ltd. also issued a statement following its decision to dismiss Lochte on Monday.

"Syneron-Candela will be ending its partnership with Ryan Lochte," the statement read. "We hold our employees to high standards, and we expect the same of our business partners. We wish Ryan well on his future endeavors and thank him for the time he spent supporting our brand."

Lochte admitted that his "immature behavior" put himself and three teammates in hot water during the final days of the 2016 Summer Olympics in Brazil.

The 32-year-old Lochte initially claimed that he was robbed at gunpoint, although police declared the swimmers vandalized a bathroom after a night of partying before armed guards confronted them and asked for payment for the damage.

"Whether you call it a robbery or whether you call it extortion or us just paying for the damages, we don't know," Lochte told NBC on Saturday. "All we know is that there was a gun pointed in our direction and we were demanded to give money."

Lochte later admitted to the network that he understood that money was being asked to pay the damage or the police would be called. He also noted that he had "too much to drink that night and I was very intoxicated."

"That's why I'm taking full responsibility for it, because I over-exaggerated the story," Lochte told NBC. "If I had never done that, we wouldn't be in this mess."