Former Menudo member Draco Rosa is being dragged into another court battle with his ex-wife, Angela Alvarado ... she says he's been siphoning money from a retirement account that belonged to the both of them and now owes her more than $200,000.

In court documents, obtained by TMZ, Angela claims a shared account worth $508,439 when they divorced has now dwindled to $34,510 due to several withdrawals Draco allegedly made between 2019 and 2024.

As a result, Angela is requesting the judge award her 100% of the remaining money in the account ... and order Draco to pay the balance of $219,710 she says she's still owed. She also wants the judge to hit Draco with sanctions in the amount of $8,719 for making her spend money on lawyers to go to court over the situation.

Remember ... Draco filed to divorce Angela in 2019 after nearly 30 years of marriage.

The singer is best known as a former member of the super-famous Latin boy band Menudo. During his time with the band, he formed a bond with band mate Ricky Martin and later worked as a producer and songwriter for Ricky's "Livin' la Vida Loca."