ANTHONY, Texas -

An officer with the Texas Anthony Police Department has been arrested, accused of stealing money from the American Legion of which he was president.

Michael Saavedra, 36, was arrested by Texas Rangers August 15, said a spokesperson with the Texas Department of Public Safety.

Saavedra is charged with Misapplication of Fiduciary Property of Financial Institution, a third-degree felony.

An amount of the alleged stolen money was not given, but according to Texas Penal Code, a third-degree felony means the amount can range from $20,000 to $150,000.

According to jail records, Saavedra bonded out the same day he was arrested. He posted a $50,000 bond.

Anthony Police Chief Carlos Enriquez told ABC-7 that Saavedra has been with the department for about six years, and his rank is corporal.

Chief Enriquez said Saavedra is currently on leave without pay, adding that the incident happened while Saavedra was off duty.

A DPS spokesperson said the investigation into Saavedra is in no way related to the Anthony Police Department. The investigation remains ongoing.

The Department of Texas of the American Legion represents all Texas Posts and serves the needs of all veterans of U.S. Armed Forces and their families.

No other details have been released.