Sioux Falls Woman Indicted for $100K-$500K Grand Theft from 16 Victims

Margaret Jean Spears-Pederson, a 67-year-old Sioux Falls woman, has been indicted on charges of grand theft involving unauthorized control of funds belonging to 16 victims, with the total amount ranging between $100,000 and $500,000. The alleged thefts occurred in Codington County between January 2023 and January 2025. Spears-Pederson appeared in court on June 4, with bond set at $50,000 cash surety, and faces a maximum sentence of 15 years in prison if convicted. Attorney General Marty Jackley emphasized the importance of consumers ensuring agreements are in writing before making payments to avoid similar situations. The case is being investigated by multiple agencies including the South Dakota Consumer Protection Division and the Watertown Police Department, with prosecution handled by the Attorney General’s Office. Retired Judge Mark Barnett will preside over the case.