(PEOPLE) - Standing outside his family home in Wasilla, Alaska, Wednesday, the 19-year-old Levi Johnston confirmed that the end of his engagement to Bristol Palin was mutual and decided "a while ago." But, he also told the Associated Press that the rumors on the Internet of why and how were inaccurate.
Meanwhile, Palin, the 18-year-old daughter of Gov. Sarah Palin, issued a statement through her mother's political action committee, saying, "Unfortunately, my family has seen many people say and do many things to 'cash in' on the Palin name. Sometimes that greed clouds good judgment and the truth."
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