An accounting for expense funds in the Southern Holdings case provided Sep. 15, 2011, to James Spencer, former CEO of Southern Holdings, Inc., does not conform to S.C. reporting requirements for attorney trust funds.

The accounting, which, reportedly, comes from trust account records of attorney John Rakowsky, was provided to Spencer by attorney Stephanie Weissenstein of the Desa, Ballard, Weissenstein Law Firm. Weissenstein is representing Rakowsky in an interpleader action of the remaining Southern Holdings expense funds held in trust by Rakowsky. Rakowsky represented Spencer and his co-plaintiffs in the Southern Holdings case,

Under deposits, an amount of $67,500 is shown with no identification of who provided the funds or when they were provided. Rule 417 of the S.C. Judicial Department and Rule 1.15 of the South Carolina Rules of Professional Conduct require the date, source and description of each amount deposited to be included in the records.