(KWAT – Watertown, SD) A Watertown Travel agent has been indicted on one count of Grand Theft for taking money from 16 different victims that had a combined value of between $100,000 and $500,000.
Sixty seven year-old Margaret Spears-Pederson, who now has a Sioux Falls address, was indicted May 22nd by a Codington County Grand Jury.
The alleged theft occurred in Codington County over a two year period beginning January 1st, 2023.
Court documents obtained by KWAT News say the alleged offenses were committed through the defendant’s operation of Pederson Travel Service on Highway 20 in Watertown.
Spears-Pederson was booked into the Codington County Detention Center Tuesday night, and made her initial court appearance today.
Bond has been set at $50,000 cash surety. If she posts bond, she’s required to surrender any passports in advance.
If convicted, Spears-Pederson faces a maximum sentence of 15 years in prison.
Due to a potential conflict of interest, the South Dakota Attorney General’s office is prosecuting the case, which was assigned to retired Judge Mark Barnett.
