Sulaiman Halshoy was a wealthy man from Sulaimani's Pshdar district. He built a reputation of a promising business that could multiply his wealth in an unimaginably short period. His story was unknown until he collected millions of dollars worth of vehicles, homes, property, land, weapons, and even cattle. He promised his lenders that he would multiply their property. Surprisingly those who lent him did not think a contract was necessary since his reputation blindfolded his clients.

However, on December 19, he declared bankruptcy. Hundreds of people flocked to his home and even wanted to kill him in revenge for taking their money and property. However, no one would dare to hurt Halshoy because the perpetrator should pay other clients back if anything happens to him. Essentially, he is protected by his clients. On average, everyone had paid Halshoy close to 30,000 USD. Halshoy is placed in custody pending trial in Sulaimani's Raparin district.

His case is probably one of the most complex since there is no legal contract between Halshoy and his clients was signed. Most contracts between him and his clients are amusing as they were only word of mouth or just a signature with the first name on pieces of colorful paper. In some instances, clients signed a piece of a paper taken from a cigarette package with only Halshoy's and the clients' first name, and the amount given to Halshoy, without any mention of date or legal reference.

A man who lent his vehicle to Halshoy said there were no legal contracts between Halshoy and his clients. He had always said that he would not guarantee his deals and that nobody had the right to ask for his money whenever he went bankrupt.

Halshoy's deals went viral because he would buy something overpriced from his clients while few people wanted to buy them, which he sold for lesser cash. For instance, if the price for a vehicle were 10,000 USD in the market, he would pay 20,000 USD but on the condition that he would pay the amount back a year or a half year later.

One might think he was an imposter who wanted to steal people's wealth. However, on the second look, it does make sense. If more money makes more money, then Halshoy did precisely that. With millions of dollars at his disposal, he could increase his wealth quicker and pay back his clients. A friend of Halshoy claims that he had 8 million dollars and wanted to pay back his clients, but he was drugged and robbed and his money stolen before he could pay back his clients.

The Director of Raparin Police Directorate, where Halshoy is awaiting trial, told KurdSat News that Halshoy is charged with taking 15,230,000 USD by adding up all the people who have sued him.

People who have lost their money in their dealings with Halshoy have repeatedly gathered in front of the Raparin police department, demanding to bring Halshoy to justice.

Halshoy's case remains a mystery of how he could convince so many people to trust him with their wealth when the Kurdistan region was going through a financial crisis.

On June 28, the director of the Raparin police department, Shorsh Ismael, announced Halshoy's release on 100,000 USD bail ahead of trial.