Lochte was accused of "falsely communicating a crime to authorities" when he told media he had been robbed by men posing as police officers while out celebrating the U.S. Olympic team's wins. It turns out, the group had vandalized a gas station restroom and were stopped by security guards.
A Brazilian appellate court has dismissed the case, according to USA Today.
"We are pleased that the court has finally dismissed the criminal prosecution against Mr. Lochte, while at the same time, appropriately recognizing that he committed no crime,"said Jeff Ostrow, Lochte's attorney. "It has been a long year, but in the end, justice prevailed."
Lochte and his fiancé, Playboy model Kayla Rae Reid, have since opened up about the incident, which they feel was "blown out of proportion" by the media and law enforcement.
"Everything was blown out of proportion," Reid said in a previous issue. "They were celebrating their victory. At the time, I really had to sew my mouth shut. People treated him like he murdered somebody."
Lochte revealed the scandal had a serious effect on his mental stability. He claimed he even contemplated suicide as a result of the fallout.
"After Rio, I was probably the most hated person in the world," he said. "There were a couple of points where I was crying, thinking, 'If I go to bed and never wake up, fine.'"
When asked if those comments alluded to suicide, he nodded and added, "I was about to hang up my entire life."