Michael Phelps may lose Olympic medals over Louis Vuitton ad

There are indications that Olympic gold medallist Michael Phelps may lose his medals and be fined for posing for French luxury fashion house Louis Vuitton.

Yahoo news reports that Phelps may have violated International Olympics Committee (IOC) Rule 40, which prohibits athletes in the Olympics from promoting non-Olympic sponsors within the period of July 18 to August 15.

The photo campaign was meant to commence on Thursday, August 16, 2012, in accordance with the IOC rules but was leaked a few days into the games.

Phelps won four gold and 2 silver medals in the just concluded Olympics.

Both LV and Phelps have denied knowledge of the leaks.

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