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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 4

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(h) of the Investment Company Act of 1940

o	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Name and Address of Reporting
Person*

Issuer Name and Ticker or Trading
Symbol

I.R.S. Identification Number of Reporting
Person, if an entity (Voluntary)

Mangano, Ross J.

(Last) (First) (Middle)

Mego Financial Corp. (LESR)

112 West Jefferson Boulevard, Suite 613

(Street)

Statement for Month/Day/Year

If Amendment, Date of Original (Month/Day/Year)

04/11/2003

Relationship of Reporting Person(s)
to Issuer (Check All Applicable)

Individual or Joint/Group Filing
(Check Applicable Line)

South Bend, Indiana 46601

(City) (State) (Zip)

Director

10% Owner

Form Filed by One Reporting Person

Officer (give title below)

Form Filed by More than One Reporting Person

Other (specify below)

Reminder:		Report on a separate line for each class of securities beneficially owned directly or indirectly.

*		If the form is filed by more than one reporting person, see instruction 4(b)(v).

Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

Title of Security
(Instr. 3)

Transaction
Date
(Month/Day/Year)

2A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)

Amount of Sec-
urities Beneficially
Owned Following
Reported Trans-
action(s)
(Instr. 3 and 4)

Ownership
Form:
Direct (D) or
Indirect (I)
(Instr. 4)

Nature of
Indirect
Beneficial
Ownership
(Instr. 4)

Code

Amount

(A)
or
(D)

Price

Common Stock

8,750

Common Stock

325,000

(1)

Common Stock

91,250

(2)

Page 2

Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

Title of Derivative
Security
(Instr. 3)

Conversion or Exercise
Price of Derivative
Security

Transaction
Date
(Month/Day/Year)

3A.

Deemed Execution
Date, if any
(Month/Day/Year)

Transaction
Code
(Instr. 8)

Number of Derivative Securities
Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

Code

(A)

(D)

Convertible Note

Warrant

Stock Purchase Warrant

$1.10/share

4/11/03

J (7)

Stock Purchase Warrant

$1.10/share

4/11/03

J (7)

Stock Purchase Warrant

$1.10/share

4/11/03

J (7)

Page 3


Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned — Continued (e.g., puts, calls, warrants, options, convertible securities)

6.	Date Exercisable and Expiration Date (Month/Day/Year)		7.	Title and Amount of Underlying Securities (Instr. 3 and 4)		8.	Price of Derivative Security (Instr. 5)		9.	Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)		10.	Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11.	Nature of Indirect Beneficial Ownership (Instr. 4)

	Date Exercisable	Expiration Date		Title	Amount or Number of Shares

	(3)			Common Stock	22.000			$40,000			10		D

	Immed.			Common Stock	100,000			$400,000			10		I		(1)

	Immed.			Common Stock	75,000			$300,000			10		I		(1)

	Immed.			Common Stock	253,000			$460,000			10		I		(2)

	Immed.			Common Stock	100,000			(4)			10		I		(1)

	Immed.			Common Stock	75,000			(5)			10		I		(1)

	Immed.			Common Stock	200,000			(6)			10		I		(1)

	Immed.	9/27/07		Common Stock	30,750			(7)			10		D

	Immed.	9/27/07		Common Stock	875,000			(7)			10		I		(1)

	Immed.	9/27/07		Common Stock	344,250			(7)			10		I		(2)

Explanation of Responses:

(1) Shares of Common Stock, the Convertible Promissory Notes and the Stock Purchase Warrant to which this notation applies are owned by Troon & Co., an Indiana general partnership, of which Mr. Mangano is a partner. Mr. Mangano disclaims beneficial ownership of these shares, notes and warrant except to the extent he may be deemed to have a pecuniary interest therein.

(2) Shares of Common Stock, Convertible Promissory Note and the Stock Purchase Warrant to which this notation applies are owned by Oliver Illinois Trust, of which Mr. Mangano is trustee. Mr. Mangano disclaims beneficial ownership of these shares and the note except to the extent he may be deemed to have a pecuniary interest therein.

(3) The Convertible Promissory Note is convertible upon the completion of a merger or acquisition described in the note, which is incorporated herein by reference to Exhibit 99.5 to the Schedule 13D filed with the Securities and Exchange Commission by Mr. Mangano on December 21, 2001.

(4) This Warrant was issued as partial consideration for a $100,000 loan that Troon & Co. advanced to the Issuer.

(5) This Warrant was issued as partial consideration for a $75,000 loan that Troon & Co. advanced to the Issuer.

(6) This Stock Purchase Warrant was issued as partial consideration for a $750,000 loan that Troon & Co. advanced to the Issuer.

(7) This Stock Purchase Warrant was issued as partial consideration for the refinancing of prior loans from Troon & Co. to the Issuer, which refinancing included the loan of an additional $2,000,000 to the Issuer.

/s/ ROSS J. MANGANO		4/14/03
**Signature of Reporting Person		Date

**		Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:		File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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MEGO FINANCIAL CORP 4