LOS ANGELES (FOX NEWS) -- Los Angeles police say a man has been arrested for allegedly stealing Frances McDormand's Oscar statuette.

A police spokeswoman says 47-year-old Terry Bryant was arrested Sunday night on suspicion of felony grand theft. He is being held on $20,000 bail 

A representative says McDormand has been reunited with her best actress Academy Award, after it went missing during a post Oscar party Sunday.

Security was dispatched to find the Academy Award, which had McDormand's named engraved on it, after it went missing. Winning recipients of the award get their names engraved on it at the Governors Ball.

The New York Times reported security at the ball were looking for a man who was photographed with the statuette. Wolfgang Puck's photographer was able to stop the man before he left with the Oscar. McDormand allegedly said to let the thief go but security turned him into to Los Angeles police. The suspect was reportedly booked on "felony grand theft."

The 60-year-old was fresh off her Oscar win for her portrayal of Mildred Hayes in "Three Billboards Outside Ebbing, Missouri," when she lost her golden award while celebrating at the Governors Ball.

The two-time Academy Award-winning actress was spotted crying outside the ball after she and her husband, director Joel Coen, gave up searching for the statue. The couple left the ball without the coveted award.

The "Fargo" star's representative, Simon Halls, confirmed the trophy was discovered and returned to McDormand.

"Fran and Oscar are happily reunited and are enjoying an In-N-Out burger together," Halls said in a statement.

McDormand won her best actress Academy Award Sunday for her portrayal of grieving mother Mildred Hayes in "Three Billboards Outside Ebbing, Missouri." McDormand won her first best actress Oscar for the 1997 film "Fargo." She was also nominated for her roles in "Mississippi Burning," "Almost Famous" and "North Country."

During her acceptance speech, McDormand asked all the female Oscar nominees to stand with her.

Frances McDormand won the Oscar for her portrayal of grieving mother Mildred Hayes in "Three Billboards Outside Ebbing, Missouri."  (AP)
"The filmmakers, the producers, the directors, the writers, the cinematographers, the composers, the songwriters, the designers, come on," McDormand called out. "Look around, look around...because we all have stories to tell and projects we need financed."

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