Sioux Falls woman, 67, indicted for grand theft of more than $100,000

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Sioux Falls woman, 67, indicted for grand theft of more than $100,000

A Sioux Falls woman was indicted May 22 by a Codington County grand jury on charges of grand theft of more than $100,000 and less than $500,000, according to a

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from South Dakota Attorney General Marty Jackley.

Margaret Jean Spears-Pederson, 67, was arrested June 4 for allgedly taking money belonging to 16 people in Codington County illegally between Jan. 1, 2023 and Jan. 1, 2025.

“The defendant is alleged to have violated the victims’ trust,”Jackley stated in the release. “This is a good reminder for consumers to do due diligence when agreeing to pay for services. Make sure everything is in writing upfront before you provide payment.”

This offense is classified as a Class 3 felony. If convicted, Spears-Pederson could face a maximum sentence of 15 yearrs in prison.

Spears-Pederson appeared in court the morning of June 4 for an initial hearing. Her bond was set at $50,000 cash surety. Retired Judge Mark Barnett will preside over the case.

Agencies investigating the case were South Dakota Consumer Protection Division, South Dakota Division of Criminal Investigation, and Watertown Police Department. The Attorney General’s Office is prosecuting the case.

Vanessa Carlson Bender is the real estate and development reporter for the Sioux Falls Argus Leader. Reach her at *****@*****.tld.

This article originally appeared on Sioux Falls Argus Leader:

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