Diamond was taken into custody for possession of a switchblade, first degree recklessly endangering safety and carrying a concealed weapon.
Diamond is scheduled to appear in a Ozaukee County Court at 1:30 p.m. Friday, December 26th.
We'll update once more details are released about Screech's apparently insane Christmas night.
Cops tell us Screech allegedly stabbed a guy after getting into an argument that quickly escalated late Christmas evening — and then he bailed from the bar.
Officers located Dustin, his girlfriend and the car not long after ... and the knife was in his ride. Dustin's girlfriend was booked on a disorderly conduct charge. Diamond's bail was set for $1K.
Cops tell us the victim suffered non-life threatening wounds ... and he's already home recovering.
TMZ also has video of the moment just before the alleged fight:
[Image via WITI]