PROVIDENCE – Michael Chaves, owner of CAT Inc., an automobile transport company in East Providence, pleaded guilty to charges of falsification of records, aggravated identity theft, five counts of bank fraud, and two counts of wire fraud, and tax evasion, in U.S. District Court in Providence Friday.
Chaves confessed to continuing to operate a fleet of auto transport trucks after having been cited for allowing drivers to operate without a current or properly classified license, failing to maintain certifications that drivers were medically able to drive and failing to implement a driver alcohol or controlled substances testing program, as well as allowing drivers to exceed the maximum number of hours of driving allowed under the law, the court said.
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Chaves also confessed to falsifying federal documents, engaging in a fraudulent check scheme, taking several steps to evade paying proper taxes, and admitted to inhibiting investigations into his actions.
Chaves admitted to fraudulently obtaining more than $400,000 from various financial institutions.
Chaves is scheduled to be sentenced in November.
