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What I don't get is yes it is a lot of money but the court should force him to sell all of his expensive toys such as the lake house and boats. Take him down to a single house and car. That way he is not spending as much money he owes his victims. Then garnish his wages to the median salary people make in the area he lives.
Granted the forced sale and garnishment should be after the bankruptcy court but they should run through this case fast. I don't have much hope for bankruptcy court in Texas since that seems to be where all corporations go to screw people over. (Also look at how the sacklers abused the process)
The bankruptcy process will force him to sell the expensive toys but I am not sure if even that can force him to set aside money for civil judgements. In some cases, bankruptcy can also discharge those debts... so we will see.