I wouldn't call it a lie. While it would make more sense to have a different escrow in Royse777's situation, as long as the campaign participants trust him (which they probably do as evidenced by applying to the campaign) and are aware that he's the escrow I don't see this claim as false. Campaign manager acting as an escrow is quite common as you probably know 
I think livecasino.io managers also say they have funds in escrow and they personally hold them, like Royse777. So I think suchmoon is right.
The difference in their case is that they don't have money problems and both of them have to agree to move the funds.