Cops always threaten people with felonies to make it seem like you're going to be in a world of hurt. It's simply meant to scare you and get you to "cooperate". They are under no obligation to be truthful or forthcoming with you. Nor will they ever help you despite what they say. Remember that a cop's job is to find and arrest criminals. If they need you to "cooperate" it's often because they need you to make admissions of guilt in order to even have even a semblance of a case against you. Bottom line, NEVER talk to the police.
I'm not a lawyer and I didn't stay at a Holiday Inn Express last night, either. So take that for what its worth. NEVER talk to the police without legal representation.