Sueing a Condo Board Member

I own a condo in an association that only has two other members (it is a three unit building). Both myself and one other member are recent additions through the purchase of bank owned units. It appears that the only founding member of the association remaining has been stealing money from the association. She has done this by collecting fees from us and from the banks at closing and then pocketing the money. She claims the money is owed to her as reimbursement for expenses she incurred while the units were bank owned, but has refused to provide any documentation of these expenses. We have notified her that she is legally required to show us all the financial records but have received evasive behavior and even threats in return. The other member and myself feel that the only recourse now is to take her to court to try and recover some of the stolen money. We are unsure where to start and would greatly appreciate any advice. As a side note I should mention that this same woman is involved in a law suit brought by Bank of America for stolen money as well. This appears to be her M.O.