Philadelphia Business Owner Pleads Guilty to Loan Fraud
Mayerlyn Cordero faces prison time after admitting to a scheme involving fraudulent loan applications and stolen identities.
Updated on Oct. 27, 2026 in Financial Crime
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Mayerlyn Cordero, who operated a business called May Tax, has pleaded guilty to charges of wire fraud and conspiracy. She admitted to filing 13 fraudulent loan applications that resulted in over $1 million in illicit funds.
Why it matters
The case highlights the ongoing federal crackdown on systemic abuse of pandemic-era financial relief programs. Authorities continue to prosecute those who utilized the CARES Act to facilitate criminal activity through stolen personal information.
Cordero pleaded guilty to five counts of wire fraud and one count of conspiracy to file false claims. She faces up to 20 years in prison for each wire fraud charge and 10 years for the conspiracy count, with sentencing scheduled for February 3, 2027.
The players
Mayerlyn Cordero
The defendant who operated the tax preparation business known as May Tax and pleaded guilty to federal fraud charges.
The details
Cordero utilized her business, May Tax, to submit applications with inflated employee figures for PPP and EIDL loans. She also used stolen personally identifiable information provided by a co-conspirator to file 23 false tax returns.
Timeline
March 2020: The CARES Act was enacted.
February 2026: The defendant was charged by indictment.
April 7, 2026: The National Fraud Enforcement Division was created.
October 27, 2026: The defendant entered her guilty plea.
February 3, 2027: Sentencing is scheduled for the defendant.
Legal Context
This case follows the pattern of federal prosecutions targeting systemic abuse of the CARES Act. It reflects the ongoing efforts of the National Fraud Enforcement Division to address large-scale financial crimes facilitated by pandemic-era relief programs.
This case serves as a warning for local residents regarding the security of their personal information when using small tax preparation services. It underscores the importance of verifying the legitimacy of businesses that handle sensitive personally identifiable data.
The takeaway
Individuals should monitor their financial and tax records closely to ensure no unauthorized claims have been filed in their name. If you suspect your data has been compromised, contact the appropriate federal agencies to secure your identity against potential future fraudulent use.
What happens next
The defendant is scheduled to appear for sentencing on February 3, 2027.
Further reading
For more background on regional legal proceedings, visit the Financial Crime section.
Source note: This article includes information reported by The United States Department of Justice.
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