Porn king banned from directing companies

Porn magnate Steve Crow, the man behind the "Boobs on Bikes" parades, has been banned from directing a company for four years.

The Ministry of Economic Development served the ban on Mr Crow last week under a section of the Companies Act designed to protect the public from directors with a history of failed businesses, the Taranaki Daily News reported.

The ban applies to companies anywhere in Australasia.

The Auckland businessman, who co-owns the New Plymouth RSA clubrooms, said the ban arose from two companies he liquidated in 2009.

"Certainly I made some mistakes, but the decision to liquidate two of our trading companies and restructure our operations to slash expenses cost my fellow shareholders and I hundreds of thousands of dollars and was not made lightly," he said.

The ban would not have a significant affect on any of his businesses as he was more of a consultant, he said.

- NZPA