Yes, there are ways to do so, but like ffk123 said, it is not like click-and-ready. To re-create a really recognizable human 3d character is one of the hardest task in every 3d tool, and so it is in VaM. With some few practice, you can do a more-or-less look-alike character very easy in VaM by using all the morph sliders. You can add hundrets of additional morphs from other DAZ Genesis 2 sources, and even refine your work as long as you like. You can create face textures in Photoshop (etc), to make it even more recognizable... It is even possible to use FaceGen Artists Pro to create a face from Photo(s) and use this in VaM, but it will not be perfect in any ways and needs lot of post processing. It depends on your own pretensions, if this lasts hours or days (or...).
But it IS possible, like almost everything is possible in VaM with a certain amount of effort. That is IMHO the fun part of VaM.