U.S. gold medalist Ryan Lochte admitted Saturday (August 20) that he had exaggerated his story about being robbed at gunpoint in Rio.

In an interview with Matt Lauer of "NBC" that has not been entirely released, Lochte says he is responsible for the incident.

"I'm taking full responsibility for it because I over-exaggerated that story and if I had never done that we wouldn't be in this mess," one of America's most decorated Olympic swimmers said.

The Olympian insisted that he was a victim of extortion because he was forced by armed guards to hand over money.

"All we know is that there was a gun pointed in our direction and we were demanded to give money," Lochte explained. "Wanted to get out of there as quick as possible and the only way we knew is this guy saying you have to give him money so we gave him money and we got out."

The tale of a gunpoint robbery in Rio initially embarrassed Brazil, which had suffered a series of assaults against visiting government ministers, athletes and tourists, until local police accused Lochte, 32, of making it up to cover up vandalizing a gas station.