'Gypsy Sisters' Star -- Arrested for Swindling Target

Joann Wells -- one of the stars of TLC's, "Gypsy Sisters," -- was busted in North Carolina after she allegedly stole thousands of dollars from a Target.

Officials from the Cary PD in North Carolina tell TMZ ... Wells befriended two cashiers at a Target last December to aid in her fraud. We're told the cashiers ran fake bar codes on merchandise, forced expired coupons, and cashed gift cards -- and Wells would share the profits.

We're told the scheme took place over a 10 day period ... and racked up a total of $14,700.

A warrant was issued for her arrest, but Wells turned herself in last week and was charged with obtaining property under false pretense, and felony conspiracy.

She was later released after posting bail. Both cashiers were also arrested.

TLC had no comment.