In medium bowl, combine all meatball ingredients except oil; mix well. Shape into 16 (1 1/4-inch) balls.
In medium skillet, heat oil over medium-high heat until hot. Add meatballs; cook until browned. Drain; return meatballs to skillet.
In small bowl, combine all sauce ingredients; mix well. Pour over drained meatballs. Cover; simmer 10 minutes. Serve with cocktail toothpicks.