EL CAJON : Kuwaiti Agent Posts Bond
The San Diego businessman accused of masterminding a 1990 pro-war advertising campaign financed by Kuwait has posted bond and was to be released from the federal detention center here.
William R. Kennedy Jr., who was indicted this month on charges of tax evasion and failing to truthfully register as a Kuwaiti agent in connection with the campaign, will be subject to electronic monitoring while at his El Cajon home.
Sam Zakhem, a former ambassador to Bahrain and a Lakewood resident, faces similar charges in the case.
Kennedy posted property and promissory notes Monday totaling $468,000. He also signed a $132,000 unsecured note payable if he fails to show up in court and relinquished his U.S. passport.
Assistant U.S. Atty. Stephen Peters opposed Kennedy’s release, saying he is a flight risk.
Kennedy, former publisher of Conservative Digest, and Zakhem are accused of pocketing $5.7 million from the Kuwaiti-financed campaign.
Kennedy was also indicted for his role at the helm of Western Monetary Consultants Inc., a Fort Collins precious-metals business that collapsed in 1988, running up debts of $18 million.
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