Ryan Lochte Says Surveillance Tape Was Edited At Critical Point

Ryan Lochte did not lie about the "robbery" incident ... and there are 3 minutes of missing surveillance video that will back up most of his story ... this according to sources directly connected to the swimmer.

Our sources say Lochte and his team claim they were indeed taken out of a cab at gunpoint, but the video doesn't show that because the gas station edited it out.

We're told Lochte mistook the uniforms worn by the security guards as police uniforms, and he claims during the missing 3 minutes he and the other swimmers were pulled out of the taxi at gunpoint.

As for his claim the cab was pulled over en route, one of the sources concedes, "That's a problem."

And our Lochte sources say reports that his 3 teammates admitted the story was a lie are untrue.

In fact ... Jimmy Feigen just spoke with local news in San Antonio, denying a cover-up and affirming he was robbed.