Oscars 2018: Frances McDormand's alleged Oscar thief admits to 'holding' statue, pleads not guilty to theft

Gibson Johns

The man charged with stealing Frances McDormand's Best Actress Oscar after Sunday night's Academy Awards is pleading not guilty -- while still admitting that he was in possession of her Oscar statue.

Terry Bryant, the man who was apprehended after being seen with McDormand's Academy Award, was arraigned in court on Wednesday, where he pleaded not guilty to charges of felony grand theft.

SEE ALSO: Oscars 2018: Academy wants man who stole Frances McDormand's Oscar to be prosecuted

Bryant's lawyer, Daniel Brookman, told reporters outside the court that he plans to "forcefully and aggressively resist" the theft accusations, noting that "there's a big different between holding an Oscar and what he's charged with."

"I don't think his character matches these charges," he added, the AP reported.

See photos of Terry Bryant holding Frances McDormand's Oscar:

Though the alleged thief faces up to three years in jail if convicted, Los Angeles Superior Court Deborah Brazil ruled that he "did not pose a risk to the public and said he will be released on his own recognizance," the Associated Press reported.

SEE ALSO: Frances McDormand Oscar theft suspect faces up to three years in jail

Bryant was seen on footage from The Governors Ball holding McDormand's Oscar for Best Actress following the 90th annual ceremony. She was awarded for her performance in "Three Billboard Outside Ebbing, Missouri."

The actress had initially made it known that she didn't seek to press charges against Bryant after her Oscar was returned to her, but it was later revealed that that wasn't her decision to make, as the Academy actually owns all Oscar statues.

Oscar winners simply have "the right of possession" over their Academy Awards, which means that Oscars "cannot legally be sold to anyone without first offering it to the Academy for $1," TMZ reported earlier this week.

More moments from Oscars after parties:

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