TMZ is reporting that troubled actress Lindsay Lohan will be charged with felony grand theft for allegedly stealing a necklace worth $2,500.

According to the report, the Mean Girls actress will be arraigned at 1:30 p.m. and could face up to three years in prison if convicted.

Late last month Kamofie & Co. a boutique jewelry store in Venice, California reported the custom necklace stolen. Lohan, whose apartment is located close to the jewelry store, claims that the necklace was given to her on loan. The store maintains that it was stolen after photos of the 24-year-old actress wearing the necklace surfaced.

Officials knocked on LiLo's apartment last week, equipped with a search warrant, but the necklace was returned by one of Lohan's associates before police could conduct the search.

Lohan has been accused of theft before and paired with her current probation, the charge could mean jail time for her.