United States Olympic Committee CEO Scott Blackmun released a statement late Thursday night that largely confirmed what Brazilian authorities made public earlier in the day.

Ryan Lochte and three of his USA swimming teammates concocted a story about being held up at gunpoint by men posing as police officers while returning to the athletes' Olympic Village early Sunday morning.

The USOC apologized to Brazil in the statement and gave more context to the latest news developing in the case.

"The behavior 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," the USOC's statement reads.

Ryan Lochte and his teammates reportedly lied to officers about being robbed. USATSI

Two of the swimmers, Jack Conger and Gunnar Bentz, have been allowed to leave Rio de Janeiro and are bound for the United States. They were detained Thursday and spoke at length with investigators. A third swimmer, James Feigen "provided a revised statement" Thursday evening in an effort to leave Rio as soon as possible.

"Working in collaboration with the U.S. Consulate in Rio, we have coordinated the athletes' cooperation with local authorities and ensured their safety throughout the process, but we have not seen the full statements provided by Bentz and Conger," the USOC statement reads.

The statement goes on to say the four U.S. swimmers, including 12-time Olympic medal winner Ryan Lochte, "stopped at a gas station to use the restroom, where one of the athletes committed an act of vandalism. 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."

The incident and subsequent fallout has been a primary topic in international news, and the past 48 hours of the saga have overshadowed much of the Olympic competition.

"On behalf of the United States Olympic Committee, we apologize to our hosts in Rio and the people of Brazil for the distracting ordeal in the midst of what should rightly be a celebration of excellence," the statement reads. "With three day remaining in the Olympic Games, our primary focus will remain on supporting the athletes who are still competing and celebrating the achievements of those who have finished."

Team USA swimming's director also released a statement late Thursday.

Despite earlier reports to the contrary, Lochte has still not been indicted with any charges, nor has any other swimmer. Lochte remains in the United States, and authorities continue to investigate the matter.

If found guilty of falsifying an alleged crime, possible punishments for the guilty parties could include a hefty fine or a maximum sentence of six months in prison.