Deadline arrives for Lindsay Lohan plea deal

Lindsay Lohan is considering whether to take a plea deal that could lead to more jail time.

STORY HIGHLIGHTS

• Lohan is charged with stealing a $2,500 necklace from Kamofie & Company
• The actress must decide if she will accept jail time in a plea deal or go to trial
• The penalty for a felony grand theft ranges from 16 months to three years in prison in California

Los Angeles (CNN) -- Lindsay Lohan must decide Wednesday if she will accept a plea deal that would send her to jail for a jewelry store theft.

Lohan can also refuse the plea deal and demand a trial on the felony grand theft charge.

Lohan would return to Los Angeles County Superior Court on Friday if she is ready to plead guilty or no contest to the charge, court officials have said. Otherwise, a preliminary hearing will be held in April, officials said.

The actress is accused of walking out with a $2,500 necklace from Kamofie and Company, a jewelry store in Venice, California, on January 22.

She faces possible jail time for violating her probation for a drunk driving arrest because of the theft charge.

The well-publicized case took a twist this month when it was revealed that a representative of the jewelry store that accused Lohan of theft talked to a book agent about a possible book deal.

This came after the jewelry store sold the rights to the security video of Lohan in the store to a media outlet.

Steve Sadow, a criminal defense attorney who successfully defended Howard K. Stern in the Anna Nicole Smith case, said these developments could affect the case.

"The pursuit of a book deal, coupled with the sale of the surveillance video, clearly demonstrates that the owner is interested in money and publicity, and has trumped up the allegations against Ms. Lohan to further his own interests, not to seek justice," Sadow said.

The penalty for a felony grand theft conviction ranges from 16 months to three years in a California state prison. The exact term would be based on the value of the property stolen and the criminal record of the defendant.

Shoplifting offenses are charged as petty theft if the property taken is valued at less than $950. The store owner claims the "one of a kind" necklace is worth $2,500, police said.

CNN's Alan Duke contributed to this report.

Sofía Vergara Milla Jovovich Aisha Tyler Vanessa Minnillo Vitamin C