Combine the beef, eggs, corn flake crumbs, oregano, cinnamon, salt and pepper in a bowl. Form into 32 meatballs.
Heat the oil in a large nonstick skillet over medium. Add half the meatballs to the skillet and cook, turning occasionally, until browned, about 4-5 minutes. Transfer to a plate and repeat with the remaining meatballs.
Return all the meatballs to the skillet. Combine the ketchup, sugar, raisins, vinegar, Worcestershire sauce and water; add to the skillet. Bring to a boil, reduce the heat to medium low and simmer, stirring occasionally, until sauce is thickened, 18-20 minutes.