Poor old guy!!! How humiliating!! http://www.tmz.com/2012/07/19/fred-willard-arrested-masturbating/ Fred Willard was arrested for lewd conduct last night in Hollywood when police caught him with his pants down in an adult movie theater ... TMZ has learned. According to law enforcement sources, LAPD undercover vice officers went into the Tiki Theater in Hollywood and found the 78-year-old "Anchorman" star watching last night's feature ... with his penis exposed and in his hand -- aka, pulling a Pee-Wee Herman. We're told Willard was arrested at 8:45PM and booked for lewd conduct. It was a quick release -- we're told he was out of police custody a short while later. Willard is best known for his memorable roles in "Best in Show", "For Your Consideration", "American Wedding" and "Everybody Loves Raymond." According to IMDB, Fred is currently in pre-production for a movie entitled ... "The Yank."