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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
MEGO MORTGAGE CORPORATION
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(Name of Issuer)
Common Stock, $.01 Par Value
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(Title of Class of Securities)
585165 10 3
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(CUSIP Number)
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CUSIP No. 585165 10 3 SCHEDULE 13D Page 1 of 1 Pages
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(1) Names of Reporting Persons MEGO FINANCIAL CORP.
S.S. or I.R.S. Identification Nos. of Above Persons
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(2) Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
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(3) SEC Use Only
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(4) SOURCE OF FUNDS*
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) Citizenship or Place of Organization
New York corporation
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(7) Sole Voting Power
Number of 10,000,000
Shares --------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0-
Each --------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 10,000,000
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(10) Shared Dispositive Power
-0-
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,000,000
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(12) Check Box if Aggregate Amount in Row (11) Excludes Certain
Shares* [ ]
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(13) Percent of Class Represented by Amount in Row (11)
81.3%(1)
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(14) Type of Reporting Person*
CO
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(1) Calculated on the basis of 12,300,000 shares of Common Stock outstanding as
of February 10, 1997.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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ITEM 1(A). Name of Issuer:
MEGO MORTGAGE CORPORATION
ITEM 1(B). Address of Issuer's Principal Executive Offices:
1000 Parkwood Circle, Suite 500
Atlanta, Georgia 30339
ITEM 2(A). Name of Person Filing:
MEGO FINANCIAL CORP.
ITEM 2(B). Address of Principal Business Office:
4310 Paradise Road
Las Vegas, Nevada 89109
ITEM 2(C). Citizenship:
Mego Financial Corp. is a New York corporation.
ITEM 2(D). Title of Class of Securities:
Common Stock, $.01 Par Value
ITEM 2(E). CUSIP Number: 585165 10 3
ITEM 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), identify the status of the person filing.
Not applicable.
ITEM 4. Ownership.
(a) Amount Beneficially Owned: 10,000,000 shares.
(b) Percent of Class: 81.3%(1)
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(c) Number of shares as to which such person has:
<TABLE>
<S> <C> <C>
(i) sole power to vote or to 10,000,000
direct the vote ----------
(ii) shared power to vote or to -0-
direct the vote ----------
(iii) sole power to dispose or to 10,000,000
direct the disposition of ----------
(iv) shared power to dispose or to
direct the disposition of -0-
----------
</TABLE>
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(1) Calculated on the basis of 12,300,000 shares of Common Stock as of
February 10, 1997.
ITEM 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
ITEM 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not applicable.
ITEM 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not applicable.
ITEM 8. Identification and Classification of Members of the Group.
Not applicable.
ITEM 9. Notice of Dissolution of Group.
Not applicable.
ITEM 10. Certification.
Not applicable.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 13, 1997 MEGO FINANCIAL CORP., a New York
corporation
By:/s/ Jerome J. Cohen
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Jerome J. Cohen, President and
Chief Operating Officer
