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OTRC: Lindsay Lohan in court for theft case hearing

Lindsay Lohan appeared in court on Friday, April 22, for a preliminary hearing about a felony case involving the alleged theft of a necklace said to be worth $2,500.

Prosecutors are expected to present evidence against the 24-year-old actress and determine if there is enough to warrant a trial. If one is held and she is convicted, she could be sent to jail for what would mark her fourth stint.

Lohan has pleaded not guilty to a charge of felony grand theft. The actress, who is on probation stemming from a 2007 drunk driving and cocaine possession case, is accused of stealing the necklace from Kamofie and Co., a store located in the Venice area of Los Angeles on Jan. 22, three weeks after she was released from court-ordered rehab.

The owner of the store said Lohan tried on the necklace and asked how much it cost. She said she told the actress it was $2,500. Lohan looked at herself wearing the necklace in the mirror for about 20 minutes, she said, adding that about 10 minutes after the actress left the store, she realized the jewelry piece was missing.

The owner said Lohan told her she would return the following day to see a ring and that she left her employees a note saying to expect the actress and that she had forgotten to return the necklace.

The store clerk said she released a surveillance tape. Video footage that had aired on the television show "Entertainment Tonight" showed Lohan texting on her phone, pacing and talking to a store clerk at the shore.

Lohan' lawyer, Shawn Holley, is expected to enlist the help of a jewelry appraiser to try and convince the judge that the necklace is worth less than $2,500, OnTheRedCarpet.com has learned. If its value is determined to be less than $950, the actress' charge could be changed from a felony to a misdemeanor, which would carry a lighter punishment if Lohan is convicted of theft.

The store's owner said she bought the necklace for $850 and marked up the selling price to $2,500.

A judge is also expected to determine during the proceedings whether Lohan has violated her probation. If it is decided that she has, she could be put behind bars for that charge.

Lohan has rejected two plea offers to settle the case.

Lohan's past three stints behind bars have each lasted 84 minutes, 14 days and 15 hours - the last of which occurred in September 2010 after she failed a drug test and wrote about it on her Twitter page.

Meanwhile, Lohan has been trying to advance her acting career. On Thursday, it was announced that she has been cast as Kim Gotti in the new film "Gotti: Three Generations," which stars John Travolta as mob boss John Gotti, Sr., her character's father-in-law.

The actress was previously in talks to portray the late mob boss' daughter Victoria.

Fiore Films, an independent production company, said in a statement obtained by OnTheRedCarpet.com that Lohan had agreed to a two-picture deal with the firm - "Gotti: Three Generations" and "Mob Street."

"I am just grateful for the life i have," Lohan said on her Twitter page early on Friday. "I cannot explain how excited i am to begin working on films again, on top of that- i better get one of my two favorite scripts that i am in love with. my friends know what they both are..... all my love- LL god bless and g'night :)"

UPDATED at 5:30 p.m. ET: Lindsay Lohan's theft charge was reduced to misdemeanor, which carries a lighter sentence if convicted but still carries the threat of jail time.

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