The Million Dollar Listing second-season realtor and estate broker was arrested for allegedly stealing expensive pieces of art that were part of the estates he was handling, TMZ.com reported Friday.
He was subsequently released on $100,000 bail, according to TMZ.com, which added Bravo had no comment.
A 2004 Beverly Hills High School graduate, Flagg began working in "high-end residential real estate immediately," according to his Bravo-supplied bio.
In addition, Flagg is also billed as being known for "pampering his clientele" by sending chauffeured cars to his clients' homes and sending them up in helicopters to view properties.
Million Dollar Listing's second season will premiere tomorrow night at 11PM ET/PT on Bravo before moving to its regular Tuesdays at 10PM ET/PT time slot beginning August 12.