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Former baseball all-star Lenny Dykstra was arrested last night after being targeted by federal agents for embezzling more than $400,000 … from himself.

According to the U.S. Attorney in L.A. … Lenny arrested by local authorities and later charged with one felony count of embezzling from a bankrupt estate.

Officials claim Dykstra, who filed for bankruptcy in 2009, “stole and destroyed more than $400,000 worth of property in the estate.” That sounds illegal!

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Who embezzles stuff from himself while under federal surveillance?

Dykstra is not legally allowed to sell off any of the items that make up the bankrupt estate. The property must only be used to pay off debts to creditors.

All transactions must be initiated by a court-appointed trustee. Needless to say, if law enforcement personnel are to be believed, that did not occur here.

According to the criminal complaint, Len loaded up a ton of his expensive personal items into a U-Haul truck and sold them to an L.A. consignment store.

Basically, he’s shadier than Brooke Mueller at a pawn shop.

Officials say Dykstra was also trying to discretely sell some of the estate’s property on eBay and Craigslist … including valuable sports memorabilia.

Dykstra is also accused of ripping out a $50,000 sink from his $18 million L.A. area mansion and installing it in his office in Camarillo. Very subtle.

What’s more, before Lenny was hit with embezzlement charges, he was arrested last night for purchasing vehicles through fraudulent means.

Dykstra had been targeted by authorities in an ongoing investigation and is being held on $500,000 bail. He faces up to five years in prison.

A three-time All-Star, Dykstra hit .285 career with 285 stolen bases and won the 1986 World Series as a member of the New York Mets.

He later went on to achieve considerable success in the financial industry, but that apparently went downhill pretty hard in recent years.