Barclays moves to block US from collecting $488m fines in electricity market manipulation case Scott Connelly, managing director of North American power at Barclays, who was described by the regulator as the "leader of the manipulative scheme" and its "highest paid member," was hit with the largest fine and provisionally ordered to pay $15m. Three other traders, named as Daniel Brin, Karen Levine and Ryan Smith, were each fined $1m. The fines follow an investigation by FERC officials into electricity market trading by Barclays between November 2006 and December 2008. In one email cited by the regulator, Mr Smith described how he "f***ed with the Palo market," and "propped up the palo index." He wrote: "Gonna try to crap on the NP light and it should drive the SP light lower." FERC's report claims that over 655 trading days, Barclays' alleged manipulation of the electricity market cost other firms $139.3m, as traders on its "West power desk" built up large positions in physical power indices, which it would then use to raise or lower an index according to separate floating rate positions the traders had amassed.