Michael Phelps facing possible fine and a loss of medals after posing for Louis Vuitton

Yahoo news is reporting that Olympic swimming champion, Michael Phelps, could be in trouble for his recent photo shoot with French luxury fashion house - Louis Vuitton.

Photos of Phelps for LV were leaked on the Internet late last week, violating the International Olympic Committee's controversial Rule 40, which states athletes can't promote any non-Olympic sponsors from July 18 to Aug. 15. Punishments for the rule range from fines to a stripping of medals.

The campaign was set to begin on Aug. 16 in order to comply with the IOC's campaign against ambush marketing. Someone jumped the gun and the photos appeared on a wide variety of websites starting on the second Tuesday of the Olympics.

Louis Vuitton denies releasing the photographs, as does Phelps' camp.