August 22, 2016 at 06:51 PM EDT

Ryan Lochte’s sponsors are swimming away from him at record speeds following the news he fabricated a story about being robbed in Rio de Janeiro.

On Monday morning, Speedo ended its sponsorship of Lochte, and Ralph Lauren has immediately followed suit by announcing the clothing brand will not renew its sponsorship contract with the Olympic swimmer.

“Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody,” the company said in a statement to the Associated Press. “Ralph Lauren’s endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract.”

The whole controversy surrounding Lochte, a sprawling saga that’s been dubbed #Lochtegate online, began a little more than a week ago, when Lochte claimed he was robbed at gunpoint in Rio with a couple of his fellow swimmers. But shortly after, the police were unable to find witnesses of the alleged robbery and although a Brazilian judged ordered Lochte to be detained in the country, he managed to get back to the U.S.

It quickly became apparent that Lochte had lied about the robbery, and he publicly apologized for the story.

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