Is my broker being deceitful?

[Melissa N.]

We are in the process of purchasing a 9 unit in South Carolina. Our agent took 10k as earnest money a week ago but just emailed me and said that he needs another 10k for earnest money because the law requires a broker in charge to hold 40% in an escrow account. Is that true?? Let's put aside the fact that he didn't know that in the first place!