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Schwarzenegger, who has a personal fortune estimated at more than $100 million, also has a holding of at least $1 million in an investment fund that is the fifth-largest institutional shareholder of Echelon stock, according to the governor's disclosure reports and company financial filings.
Because the governor's investments are held in a blind trust that prevents him from following the individual investments of the fund managers, there is no evidence that Schwarzenegger had any idea he had a financial connection to the company.
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Blind trust, my arse!
Gov. Arnold Schwarzenegger, right, and United Nations Secretary-General Ban Ki-moon, left, smile during a news conference at Echelon Corp. headquarters in San Jose on Friday (Paul Sakuma / Associated Press)