Oh dear.

When an Olympic swimmer who's won oodles of gold medals opened up about being mugged at gunpoint at the Rio Games, we were inclined to believe him. Why on earth would anyone make that up?

But as time went on, the story from Ryan Lochte and his teammates Gunnar Bentz, Jack Conger and James Feigen just fell apart.

Brazilian authorities later alleged the swimmers got involved in an incident at a petrol station where they damaged a bathroom and ended up paying a fine to two security guards.

And there was video that appeared to prove it.

The claims flew back and forth, but the US Olympic Committee has seemingly confirmed that Lochte and co might have bent the truth beyond breaking point and issued a full apology.

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"As we understand it, the four athletes (Bentz, Conger, Feigen and Ryan Lochte) left France House early in the morning of August 14 in a taxi headed to the Olympic Village," the USOC statement read.

"They stopped at a gas station to use the restroom, where one of the athletes committed an act of vandalism.

US swimmer Ryan Lochte holds a press conference on August 3, 2016 in Rio de Janeiro, two days ahead of the opening ceremony of the Rio 2016 Olympic Gamespinterest
MARTIN BUREAU/AFP/Getty Images

"An argument ensued between the athletes and two armed gas station security staff, who displayed their weapons, ordered the athletes from their vehicle and demanded the athletes provide a monetary payment."

"Once the security officials received money from the athletes, the athletes were allowed to leave."

It continued: "The behaviour of these athletes is not acceptable, nor does it represent the values of Team USA or the conduct of the vast majority of its members.

"We will further review the matter, and any potential consequences for the athletes, when we return to the United States."

Bentz and Conger had previously been pulled off their flight home by police and had to give statements to the authorities before being allowed to leave.

Lochte had already returned home on Monday.