You can like or hate my thoughts upon this as it may be a controversial issue. But, Michael still partook in those ads, his agent might have accidentally released them, yet, he still knew better.
Some may claim he didn't know, but, would you sign a contract without knowing what you were getting you into? No (unless you’re a fool), in other words he is an Olympian and should have known better, especially on his 3rd time around. A rule is a rule; he shouldn't be so careless in the future about knowing the rules of the Olympics or whatever else he contends in.
Is it fair to take them away as he won them fairly? Perhaps in many eyes the answer is "No", but, again "A rule is a rule" and if the Committee lets him slide where does it end? Perhaps it could eventually lead to the usage of steroids in the Olympics. They will say "Well Michael broke the rules, why can't I?"
I am proud to be an American and not a "communist" for thinking this way. In the end it is unjust for a star Olympian to get away with breaking the rules. If the rules state that the medals will be taken, then so be it. Again, perhaps he will be more careful next time with his career and or who he hires.
*I have not read the story, nor intend to. I am answering upon this question and information alone.