Lindsay Lohan Formally Charged with Felony Grand Theft

The actress' bail is set at $40,000 and she faces three years in prison for allegedly stealing a $2500 necklace

Once again, Lindsay Lohan has bigger problems than being the butt of jokes on Glee: The Los Angeles County District Attorney's office has formally charged the actress with felony grand theft, People confirms.

At the arraignment on Wednesday afternoon, Lohan, 24, pleaded not guilty to charges of shoplifting a one-of-a-kind $2500 necklace from a high-end jewelry store in Venice, Calif. According to sources at RadarOnline, Lohan believes she was loaned the gold necklace, and therefore has nothing to apologize for. But it's ultimately up to the judge -- and so far, he doesn't seem to be on Lindsay's side.

"You're no different than anyone else," Judge Keith Schwartz told Lohan after she entered her not guilty plea. "Please don't push your luck."

While this is certainly not the actress' first time in front of a judge, she's never been charged with a felony before -- and Judge Schwartz warned that "things will be different" this time.

"If you violate the law," said the judge unequivocally, "I will remand you and there will be NO BAIL." (At the moment, Lohan's bail stands at $40,000 -- $20,000 for this case, and $20,000 because he revoked her probation in her DUI case.)

Not only is Lohan facing a felony charge, but if she is guilty of stealing the necklace, she also violated her probation -- which is the charge that got her sent to jail the first time. But like the nice judge said, things are different this go-around. The felony grand theft charge alone could mean a three-year jail sentence for the actress. Add the probation violation, and Lohan is looking at a lot more than those 14 days she spent in the slammer last year.

This whole thing is especially tragic for Lindsay because she was actually rumored to have a job offer -- a big one, playing a major character in Watchmen director Zack Snyder's Superman movie. But who in Hollywood will hire a convicted felon? Lindsay Lohan is rapidly running out of second chances, and it's nobody's fault but her own.

Do you think Lindsay Lohan is guilty? Chime in below!

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