The 25-year-old was alleged to have been employed at a high-end London agency before finding fame on the show, charging £600-an-hour for her services.
However, Fowler has explained to the Daily Star Sunday that she only participated in hosting and promotional work and got "totally conned" into becoming more intimately associated with the agency.
"This has ruined my life," she said. "My whole world is a mess because of these evil claims. When I heard what was going to be printed I felt suicidal. I just thought if I ended it all and I wasn't here any more I wouldn't have to deal with this.
"I didn't eat for three days after hearing about it. To me this is worse than being accused of murder or taking drugs.
"I was naive to go on all the trips but I never sold my body for money... All I wanted was to build a career for myself and now my life is ruined."
Fowler said that she hoped other impressionable young women would be able to "learn from [her] mistakes".
"I know what kind of stuff goes on now. But when I was younger I had no idea and was just flattered," she said. "Young girls need to be careful who they trust. If any good can come of this it will be if others learn from my mistakes."
Fowler has apparently been warned by TOWIE bosses that she could be axed from the show over her scandalous past.
The Only Way Is Essex continues tonight at 10.15pm on ITV2.
> Maria Fowler 'was lap dancer, had sugar daddy' before 'The Only Way Is Essex'