Boston ? A street artist famous for his red, white and blue “Hope” posters of President Obama has been arrested on warrants accusing him of tagging property with graffiti, police said Saturday.

Shepard Fairey was arrested Friday night on his way to the Institute of Contemporary Art for a kickoff event for his first solo exhibition, called “Supply and Demand.”

Two warrants were issued for Fairey on Jan. 24 after police determined he’d tagged property in two locations with graffiti based on the Andre the Giant street art campaign from his early career, Officer James Kenneally said. One of the locations was the railroad trestle by the landmark Boston University bridge over the Charles River, police said.

Fairey, 38, of Los Angeles, is scheduled to be arraigned Monday in Brighton District Court, said Jake Wark, a spokesman for the Suffolk District Attorney. Wark said Fairey would also be arraigned on a default warrant related to a separate graffiti case in the Roxbury section of Boston.

Fairey has spent the last two weeks in the Boston area installing the ICA exhibit and creating outdoor art, including a 20-by-50 foot banner on the side of City Hall, according to a statement issued Saturday by the museum.

The museum said Fairey was released a few hours after his arrest. Boston police confirmed Fairey had been released, but did not know exactly when or the amount of his bail.