Sioux Falls Woman Indicted for Alleged $500K Grand Theft Scheme

A Sioux Falls woman, Margaret Spears-Pederson, has been indicted on a grand theft charge for allegedly stealing between $100,000 and $500,000 from 16 victims in Codington County between 2023 and 2025.

By Christal Blue June 5, 2025 12:06 pm

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MITCHELL, S.D. (MITCHELLNOW) A Sioux Falls woman has been indicted on a grand theft charge involving more than a dozen victims. Attorney General Marty Jackley says Margaret Spears-Pederson is accused of taking between $100,000 and $500,000 from 16 people between 2023 and 2025 in Codington County. According to a press release, she made her first court appearance on Wednesday, and bond was set at $50,000. If convicted, she faces up to 15 years in prison. Jackley reminds consumers to get agreements in writing before making payments. The case is being investigated by state and local agencies and prosecuted by the Attorney General’s Office. For more crime stories from MitchellNow.com, click here.

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