US swimmer Ryan Lochte banned from swimming for 10 months

US swimmer Ryan Lochte has been slapped with a 10 month ban from the sport and will forfeit AUD$130,000 in bonuses for his drunken encounter in a petrol station at last month's Rio Olympics.

The ban from swimming means Lochte will miss next year's world championships.

He will also miss out on funding from the US Olympic Committee and USA Swimming, will have to perform 20 hours community service and will miss Team USA's post-Olympics trip to the White House.

The 32-year-old was dropped by four of his major sponsors after admitting he "overexaggerated" a tale about being robbed and held at gunpoint with the three other swimmers after a party during the Rio Olympics.

Brazilian authorities said the group destroyed a bathroom and urinated in public, and have recommended that Lochte be charged with falsely reporting a crime.

Three other swimmers, Gunnar Bentz, Jack Conger and Jimmy Feigen, who were with Lochte at the petrol station, have received four month bans.