X17 has what are believed to be the ONLY photos of Lindsay Lohan wearing the necklace she allegedly stole from a Venice Beach jewelry store owner, which is valued at more than $2,500.

The store owner accused the 24-year-old actress of "stealing" the piece, which led to the filing of a search warrant with the LAPD. The police never had to search Lindsay's new beach pad, however, because a "representative" for the actress returned the necklace to the jeweler.

A source close to Lindsay tells X17online exclusively:

    "She didn't STEAL the necklace, she borrowed it. It was understood that she was allowed to wear the necklace for a certain period of time and return it -- that was always the deal. She didn't steal anything and she returned it immediately when they asked for it back."