Swedish wrestler Ara Abrahamian courted controversy when he left the podium in the middle of Thursday's presentation ceremony and threw away his bronze medal in protest at a perceived injustice when losing his semi-final against Andrea Minguzzi, the eventual gold medalist.
The IOC announced soon after the wrestler's public display of disgust at the judges' decision that disciplinary proceedures would be commenced against Abrahamian.
On Saturday morning the IOC announced its decision and confirmed that Abrahamian will lose his bronze medal.
The Swede's woes could be compounded as the International Federation of Associated Wrestling Styles (Fila) is seeking a lifetime ban. When such a decision will be taken remained unclear on Saturday morning.
Abrahamian thought he had beaten Andrea Minguzzi, the eventual gold medallist in the 84kg division in the semi-finals, but the match was awarded to the Italian.
A point had been deducted against the Swede late in his semi-final bout which cost him a place in the final.
"My semi-final round loss today was totally unjustified. The controversial ruling shows that FILA (the sport's governing body International Amateur Wrestling Federation) does not play fair," the Swede claimed.