Barthlomew Claiborne of Mansfield was arrested Wednesday night.
Additional charges are expected as result of investigation by local, state and federal authorities.
At the time of his first election, Claiborne was the youngest ever elected to the School Board. He is currently serving in a leadership position on a Louisiana School Boards Association Board of Directors.
He owns Barthlomew Benefit Agency, which has offices in Mansfield and Many.