Portola Valley man sentenced to prison for theft, tax-evasion Portola Valley man sentenced to prison for theft, tax-evasion (March 24, 2004)

A Portola Valley investment adviser who practiced in Santa Clara County was sentenced to six years in state prison last week for three counts of grand theft and two counts of state income tax evasion.

A joint investigation by the state Franchise Tax Board and the district attorney's office of Santa Clara County led to the conviction of Vinod Vyas, 53, on charges of stealing more than $2.6 million from investors in 1999 and 2000 and failing to report the income on state tax returns.

Mr. Vyas used the money to buy a home, cars, jewelry and furniture, court documents said.

In addition to the prison sentence, Mr. Vyas was ordered to make restitution of more than $4 million to his victims and pay the tax board $181,000 in unpaid taxes, penalties, interest and investigation costs.

-- Bay City News

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