Going through the justice system and having a criminal record are natural consequences of certain choices. Ask me how I know
I chose to trespass so I got the consequences: handcuffed/photographed, a couple hundred dollar fine, a court date (found guilty), criminal record for 10 years (unless I paid to have it expunged), and one year ban from the trespass area (which was next door to my workplace -- big hassle).
Having that kind of record does not necessarily ruin your life. It is a hassle, but you have a choice about how you deal with it and talk about it.
I'm not sure that prosecution inherently helps teens wBPD think better, but I'm also not sure that it always makes things worse. It's an opportunity to "hit rock bottom" or not -- it's up to the person to decide if this is a "turn my life around" moment or a "see how I'm always victimized" moment.
It could impose some pretty firm boundaries on her life, and from a third party instead of you, so it could help you step out of the role of "policing" her and you could pass that role off to the professionals. She might go off the rails but instead of you having to try to guide her, it would be the law and natural consequences and third parties. That might be the biggest benefit.
Am I guessing correctly that in your area, your D17 is still legally a minor?