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The firm was also involved in controversial construction projects ordered by the king that historians say wiped out key traces of Mecca's history dating back to the Prophet Muhammad.In many ways, the Binladins were seen as part of the old guard-- a part of the economy that was based on personal relationships and not transparent, Coll said.The 32-year-old crown prince, who is the son of King Salman and is popularly known by his initials MBS, is leading the anti-corruption investigation.He's also the force behind the so-called Vision 2030 plan, a blueprint for how to restructure the country and wean it from its dependence on oil revenue."It is no longer attractive for Al Saud to retain that, nor can they afford to." In 2015, the Binladin Group suffered two major blows: the collapse of oil prices and the collapse of one of its cranes.The crane disaster killed 111 hajj pilgrims on the pristine marble floors of the Grand Mosque housing the cube-shaped Kaaba.Since the 1950's, the Binladins have been the royal family's go-to contractor for some of its most sensitive projects, including construction of private palaces in the immediate boon years after oil was discovered in Saudi Arabia.
"Bakr achieved what he set out to do, which is he kept the company intact, he kept it legitimate in the international economy and went on to concentrate primarily on construction in the region, and in Saudi Arabia in particular," Coll said.The firm came under investigation, a travel ban was imposed on Bakr Binladin and the company remains embroiled in litigation to this day.The collapse of oil prices delayed government payments to contractors, and by 2016, the Binladin Group was forced to cut tens of thousands of jobs.Here is where you learn to easily find friends for no strings sex and wife swapping with ads online.
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It may have cost the Binladins heavily as the crown prince moves to take down old alliances and power bases.