CONWAY, SC — Federal prosecutors announced Thursday that former Coastal Carolina running back Tony Keke, who finished as the 2025 Heisman Trophy runner-up after rushing for over 2,000 yards, has been indicted by a grand jury on 38 counts including wire fraud, securities fraud, and conspiracy to commit fraud. Keke, who shocked the college football world by declining to declare for the NFL Draft despite being projected as a first-round pick, instead launched a cryptocurrency venture called "KekeCoin" that allegedly defrauded investors of more than $340 million. The U.S. Attorney's Office for the District of South Carolina alleges Keke used his celebrity status and college football fame to lure investors into what they describe as "a classic Ponzi scheme with a celebrity face."

Keke's on-field accomplishments made his decision to forgo the NFL all the more puzzling. During the 2025 season, he rushed for 2,187 yards and 28 touchdowns while averaging 7.2 yards per carry, leading Coastal Carolina to an 11-2 record and a Sun Belt Conference championship. He finished second in Heisman voting behind Colorado quarterback Shedeur Sanders, and multiple NFL scouts had him graded as a top-20 pick with comparisons to Derrick Henry and Nick Chubb. Instead of entering the draft, Keke announced in January 2026 that he was "pursuing entrepreneurship in the crypto space" and launched KekeCoin in March. By August, the token had collapsed, investors had lost everything, and federal investigators had opened a criminal probe.

If convicted on all counts, Keke faces up to 20 years in federal prison on the wire fraud charges alone, with additional sentences possible for securities fraud and conspiracy. Prosecutors allege he made false statements about KekeCoin's backing, artificially inflated its value through wash trading, and used new investor money to pay earlier investors while funneling millions to personal accounts. Keke's attorney released a statement calling the charges "baseless" and insisting his client "believed in the project and had no intent to defraud anyone." Trial is set for June 2026. Coastal Carolina declined to comment beyond expressing "disappointment" in their former star's alleged actions.