gearin,
I would imagine so, provided VB's wrappers to ADO support standard DDL SQL. If so, you might be able to simply to pass a CREATE TABLE statement to your Paradox ODBC connection.
I don't have any details on how that might work, though. You'd probably be able to get an example from one of the VB forums on this site.
This particular forum covers Corel Paradox for Windows (and older versions produced by Borland).
Some of the folks on the VB forums should be able to provide you with specific examples and/or expertise.
Hope this helps...
-- Lance