View Here : Greaseball Urban Dictionary
greaseball unknown any fat italian man who wears to much cologne ( usually a cheap brand ) and has dyed hair. He will usually slick it back and use to much gel , therefore he becomes a greasball.
Hence the meatball being a "greaseball." Although meatballs are and have been for centuries, a widely used food preparation for meat among many races all over the world, it is by no means only an Italian food preparation.