Suarez was found guilty of racially abusing Manchester United defender Patrice Evra earlier in the season, and was widely criticised again on Saturday for refusing to shake the France defender's hand in their first meeting since the incident.
The Liverpool striker has maintained his innocence throughout and now has the backing of the Uruguay captain, who labelled the affair nothing more than a "football argument".
"He [Suarez] has gone through a few months he did not deserve," Lugano said on his official website.
"Everyone in football knows it is a big circus. Take into account that England is historically a colonial country and racism is a sensitive subject, but we all know it has nothing to do with what happened between Luis and the Manchester [United] player [Evra].
"It's a football argument, and many false moralists and hypocrites have profited, and Luis is the only innocent party in this situation."
Lugano praised Suarez for sticking to his principles by refusing to shake Evra's hand at Old Trafford.
"You have to have balls to do what Luis did on Saturday," he insisted.
"He followed his principles. We live in a democracy, and if you do not want to greet someone, you do not do it. And less so if that person has made you experience some bad moments."
How do you stay up to date with football when on the move? With http://m.goal.com – your best source for mobile coverage of the beautiful game.