Liu's Bid for Mayor Progresses as Campaign Coffer Grows

Although he has yet to make a public announcement, City Comptroller John Liu appears to be moving forward with his campaign for mayor, having raised already $522,000 in six months and despite looming federal charges of fraud against two people formerly connected to his campaign, The Wall Street Journal reported.

Liu, the first Asian American to hold a citywide office, said he has nothing to hide and is very proud of his team.

"All systems go, full steam ahead," said Liu of the money his campaign handlers have raised from 2,052 contributions alone. He also has roughly $2 million in cash on hand, the Journal reported.

Jia "Jenny" Hou, Liu's former campaign treasurer, and Xing Wu "Oliver" Pan, his former fundraiser. are set to go on trial Feb. 4 in Federal District Court on charges that they participated in a scheme to funnel illegal campaign donations to the comptroller.

Meanwhile, Liu's attorney maintains the comptroller is not the focus of any federal probe.

Liu, who currently polls at the bottom among the four mayoral candidates, said he's running for the city's highest office because the "astounding opportunity to bring about change in the city is well worth the public beatings along the way."

But he says he has no problem returning to the public sector in the event of a loss.

"I don't have to be in office—I've spent most of my career not in office and not having anything to do with politics and government," Liu told the Journal.