Venice Jewelry Store to Auction Lohan Necklace for Charity
She pleaded no contest earlier this month on a felony theft charge.
Watch Chris Wolfe's report
Video from alleged Lohan jewelry heist sold.
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Geoff and Sofia Kaman, the owners of Kamofie and Company, decided to auction the necklace off and donate the entire proceeds to charity, though they have not named which one.
They said in the statement, released by The Spencer Company of Beverly Hills, that they media coverage of this case has damaged their integrity and auction will be "the next step toward achieving closure."
Lohan claims the Kamans had no right to cash in on her infamous surveillance tape and plans to sue them, TMZ reported Wednesday. Lohan says she never gave permission to use her image for profit.
A website, necklacevideo.com, popped up on the internet Sunday night saying that the The Spencer Company had purchased the video and planned to release it online.
"Many individuals want to be able to see the video streams from the jewelry store's surveillance cameras, and we have obtained the exclusive license for them," the website said. "The tapes speak for themselves."
A representative for the jewelry store says they received several requests to see the video, and it was necessary to make the video public.
Late Monday night, the store released a statement saying, "We were upset with the various mischaracterizations we were seeing and hearing about the video and its contents, and we felt the video should be allowed to speak for itself."
It continued,"With regard to the question of Lindsay Lohan's guilt or innocence, we repeat that Kamofie and Company never gave permission to Ms. Lohan to remove the necklace from the store. The rest is up to the jury."
Lohan has always maintained that the necklace was supposed to be a loan.
Prosecutors are worried that the now-public video of the alleged jewelry store theft could ruin case.
This case will focus on the intent, and if the jeweler admits in front of a jury that is was just an easy way to get some fast cash from the media, it could lose its credibility.
Lohan is due back in court Thursday to face felony theft charges.
Her attorneys, Shawn Holley and Danette Meyers, prosecutor, have met with Judge Keith Schwartz, and sources tell TMZ that Holley is trying to get a short jail sentence from the judge if Lindsay goes for a plea bargain.
Earlier this month Lohan pleaded no contest on a felony theft charge in the jewelry heist case.