U.S. swimmer Ryan Lochte has been dropped by sponsor Speedo USA over his false robbery allegations in Brazil, The Associated Press reported on Monday.“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,” the company said in a statement posted to Twitter . “We appreciate his many achievements and hope he moves forward and learns from this experience.”The brand said that, as part of the decision, $50,000 of what would have been Lochte’s sponsorship fee would instead be donated to Save The Children in Brazil.The U.S. Olympic Committee apologized on Thursday night for false claims made by American Olympic swimmers, who claimed that they were robbed. The robbery, it was later determined, never happened.“The behavior of these athletes is not acceptable, nor does it represent the values of Team U.S.A. or the conduct of the vast majority of its members,” USOC CEO Scott Blackmun wrote in a statement . “On behalf of the United States Olympic Committee, we apologize to our hosts in Rio and the people of Brazil for this distracting ordeal in the midst of what should rightly be a celebration of excellence.”U.S. swimmer Ryan Lochte, who is alleged to have originated the fabricated story of being mugged after a night of partying, also apologized for his role on Twitter. “I want to apologize for my behavior last weekend — for not being more careful and candid in how I described the events of that early morning, and for my role in taking the focus away from the many athletes fulfilling their dreams of participating in the Olympics,” he wrote in a statement.