Judge Revokes Lindsay Lohan's Probation, Sets Bail at $40K

VIDEO: Judge tells Lohan, "Dont push your luck," after releasing her on 40,000 bail.
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Lindsay Lohan has escaped a fourth stint in jail -- for now.

Today, Los Angeles Superior Court Judge Keith L. Schwartz continued Lohan's felony grand theft hearing to Feb. 23 and set bail at $40,000 -- $20,000 each for the felony charge and for violation of her probation stemming from her 2007 DUI case.

He also urged her to obey the law.

"You need to follow the laws just like everybody else. Look around this room. Everybody needs to follow the law," Schwartz said. "You're no different than anyone else, so please don't push your luck."

Lohan said, "Yes, sir," when Schwartz asked if she understood him.

Clad in a white dress, a sparkly ring and pearl earrings, Lohan stayed silent for most of the hearing. She was accompanied by her lawyer, Shawn Chapman Holley.

At prosecutor Danette Meyers' request, the judge also told Lohan "and her agents" to stay away from the victim of the theft case, the Kamofie & Co. jewelry store, from which Lohan allegedly stole a $2,500 gold necklace adorned with semi-precious stones on Jan. 22.

Lindsay Lohan wearing the necklace she allegedly stole.

Meyers said that the store received flowers after police launched an investigation into Lohan and the staff didn't know what to do.

Lohan replied, "Yes, sir," to the judge's order to stay clear of Kamofie & Co.

The L.A. District Attorney's Office formally charged Lohan with felony grand theft this morning. If convicted, Lohan could go to California state prison for up to three years. The 24-year-old actress already has been to jail three times in the past three years for DUI, drug possession and probation violations.

But California criminal defense attorney Dana Cole thinks it's unlikely Lohan will serve time for the jewelry case.

"No one's cutting her any breaks," he told ABCNews.com. "It all seemed very standard. This is not a major felony case at all, I doubt she will do any jail time on this felony, it could get reduced to a misdeamenor. The question is the probation violation; that will only be dealt with after the necklace caper is resolved in one way or the other."

Lohan reportedly has said that the necklace was loaned to her by Kamofie & Co. and her assistant returned it to police.

After detectives started looking into the case and began preparing a search warrant, a friend of Lohan's brought the necklace to the Pacific Division police station.

It's not the first time the star has been connected to a theft investigation.

In 2009, British police investigated the disappearance of $400,000 worth of Dior jewels from a photo shoot Lohan did with Britain's Elle magazine.

At the time, Elle released a statement exonerating Lohan, saying, "Elle has no reason to believe that Lindsay Lohan was in any way responsible."

In 2008, Lohan was sued by a college student who claimed the actress stole and wore her $12,000 mink coat.

In April 2010, Lohan was questioned by police in connection with a stolen $35,000 Rolex. The person who filed the report withdrew her complaint before police could determine if a crime had been committed.

Lindsay Lohan arriving at court on Feb. 9, 2011.

Today's charges are the latest of many clashes -- legal and otherwise -- that Lohan has racked up over the years:

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