McGuigan was previously owner but sold his shares to Lemos in September.
Since then, there have been financial issues including wages being paid late and the club are also operating under a transfer embargo.
Co-chairman Ali Abdulrahman Al Hashemi and director Nigel Adams have left because of the current situation.
In an interview with BBC Radio Lancashire, McGuigan also revealed that:
"The board are aware of it all now and are absolutely staggered about what has happened," said McGuigan.
"That is a private matter we can't go public on - what we can go public on is he hasn't put a penny into the club.
"There is no hope, in my opinion, of any money coming in and we've got to manage it ourselves."
Asked if he looked in the mirror about what he has done, McGuigan responded: "Yes, probably about 30 times a day. When it comes out as to what happened, nobody could've done it any differently - let me reassure you of that."
BBC Radio Lancashire have made numerous attempts to contact Lemos since early November, but have not received a response.

The 30-year-old Russian is ranked 211 in the world and was given a wildcard in Rome as she continues her return from a 15-month drugs ban.
Monday's 6-4 6-2 win ensures Sharapova will move inside the top 200 and earn a Wimbledon qualifying place next month.
She will qualify for Wimbledon's main draw if she reaches the Rome semis.
However, when asked if she was aware of this week's rankings deadline, Sharapova replied: "Oh, is it? See, I think maybe you guys assume that I know these things, but I genuinely want to take care of each and every single week, and every single match is a priority for me.
"The fact that I'm back and playing three weeks in a row now and three events in a row for me is a big deal. That's my focus."
Sharapova will learn on Tuesday whether she has been given a wildcard into either qualifying or the main draw at the French Open, which gets under way on 28 May.
The five-time Grand Slam champion reached the semi-finals on her return in Stuttgart last month, but lost to Eugenie Bouchard in the second round in Madrid last week.
She made a slow start against American McHale, ranked 58th, at the Foro Italico, dropping serve three times before edging through the first set and dominating the second.
Sharapova will play Croatian 16th seed Mirjana Lucic-Baroni in round two, with world number one Angelique Kerber a potential third-round opponent.
Wimbledon's qualifying tournament is played over three rounds and takes place from 26 to 29 June at the Bank of England Sports Grounds in Roehampton.
It has previously been an unticketed event but this year there will be 1,000 tickets for sale at £5 each, with proceeds going to the Wimbledon Foundation, along with video coverage of one court.
Morecambe are "staggered" by the actions of Brazilian businessman Diego Lemos since he took over the League Two club, says chairman Peter McGuigan.
[NEXT_CONCEPT]
Maria Sharapova secured a place in Wimbledon qualifying - at least - with a first-round win over Christina McHale at the Italian Open.