Los Angeles Superior Court Deborah Brazil ruled Bryant, 47, did not pose a risk to the public and said he will be released on his own recognizance. His attorney Daniel Brookman had argued that the previous bail amount of $20,000 was unnecessary, calling the Oscar situation a momentary aberration.
The New York Times writer Cara Buckley later took to Twitter to describe how a man "grabbed Frances McDormand's Oscar and ran out with it" at the Governors Ball after-party after McDormand "had set it down and was chatting".
According to Variety, the suspect's name is Terry Bryant, and he has been booked on felony grand theft charges, despite McDormand's alleged request that he be let go by security.
Bryant was arrested Sunday night shortly after he allegedly swiped the trophy from the annual post-Oscars Governors Ball.
"There's a big difference between holding an Oscar and what he's charged with", Brookman said outside court.
Her publicist said she celebrated being "happily reunited" with the bronze statuette with a double cheeseburger from California's In-N-Out Burger chain.
A since-removed video selfie on Bryant's Facebook appeared to show him dressed in a tuxedo having praise lavished on him after courting congratulations while clutching the award and dressed in a tuxedo.
The Los Angeles police department said in a statement that the photographer, whom they did not identify, grew suspicious when he failed to "recognize Bryant as a recipient from the awards show". Bryant could get three years in jail. "I take care of my flock".
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