The Illinois State Treasurer is running for higher office. Democrat Alexi Giannoulias officially launched his bid for the U.S. Senate on Sunday.

Giannoulias used the Abraham Lincoln Hotel in downtown Springfield as a site for his campaign announcement. For the 33-year-old politician, it was a perfect backdrop after he had earlier foreclosed on a favorable loan given to the politically connected hotel investors. Giannoulias says it shows he’s about about accountability and change.

GIANNOULIAS: And that’s why I didn’t sit back and let the Illinois power brokers who owned this hotel continue to rip off taxpayers.

Giannoulias also touts ethics rules he imposed in his office to prohibit pay to play politics. But questions continue to dog him, including loans his family’s Chicago bank gave to convicted felons with ties to organized crime. Giannoulias oversaw those loans. The bank is now suing to collect.

Giannoulias enters the race as the Democratic front runner for the U.S. Senate seat, which Barack Obama formerly held. Current Senator Roland Burris says he won’t be a candidate in the next race.