Wallace is being held on $500,000 and will have a bail hearing on Sept. 26.
Hernandez, the former New England Patriot from Bristol, is charged with first-degree murder in Lloyd’s death.
Wallace, also a Bristol native, has been described by Assistant District Attorney William McCauley as Hernandez’s “right-hand man.”
McCauley has said the ex-NFL star provided “sole support” for Wallace, who in the weeks leading up to the shooting was driving the silver Nissan Altima used the night of Lloyd’s death. Hernandez had rented the Altima, which he swapped the day after the shooting for a Chrysler 300 police found parked outside a Bristol apartment complex. Wallace, meanwhile, traveled down to his parents’ house in Florida, where he turned himself in to law enforcement after police issued a wanted poster for his arrest, authorities have said.