Katt WilliamsComedian and former Dip Set affiliate Katt Williams, has been released on $40,000 bond, after being arrested for burglary outside of Atlanta, Georgia.

As previously reported, the house Williams is said to have broken into, is in fact owned by record producer Barry Hankerson, whom has told police that the comedian had permission to stay "indefinitely," while he films a movie which Hankerson is producing.

One of Hankerson's employees appears to have mistakenly called the police on Williams, whom he accused of breaking into the home with a crowbar, and stealing $3,500 in jewelry and collectible coins.

"I was in the middle of a birthday party," Williams told the judge. "I'm one of the most honorable people in my profession," continued the comedian, who, to his credit, has adopted seven children over the years, but has also received several weapons charges.

Williams' lawyer categorically denied that the comedian had any involvement in the theft. "Mr. Williams wears more than that in jewelry on his person," stated his attorney. "This is a misunderstanding which will work out quickly."

Hankerson should probably release the name of the movie that Williams is filming -- may as well get some promotion out of this mess.