The Insider.com

It seems Team USA champion Michael Phelps has yet another post-Olympics scandal on his hands.

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Photos from the swimmer's near-naked, high-fashion campaign for Louis Vuitton leaked to the internet on August 12, mere hours after the closing ceremonies commenced in London, which, according to International Olympic Committee's strict ban against promoting non-Olympic sponsors from July 18th to August 15th, may very well strip the 27-year-old of his distinction as the most decorated Olympian of all time.

Punishments for the violation range from a small fine to a complete stripping of medals earned in the Olympic cycle. The regulation, known as "rule 40," reads as follows:

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"A competitor or a team may lose the benefit of any ranking obtained in relation to other events at the Olympic Games at which he or it was disqualified or excluded; in such case the medals and diplomas won by him or it shall be returned to the IOC."

From this point on, only time will tell what (if any) punishment Phelps may suffer, but odds are he'll make it through this scandal as he did 2009's bong–gate-- that is to say, pretty much unscathed.