Subway's disgraced former spokesman Jared Fogle is preparing to plead guilty to child pornography charges amid a sexual abuse probe by the FBI, according to reports.

The 37 year old - who is yet to be arrested or charged in the case but has been subpoenaed as part of the investigation - will accept a plea deal.

In the wake of the news, Subway issued a one-line statement on its Facebook and Twitter pages late Tuesday distancing itself from Fogle, who was suspended as the company's spokesman last month after the FBI raid on his home.

'We no longer have a relationship with Jared and have no further comment,' the message read.

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Disgraced: Jared Fogle was a target of a federal investigation which included a raid on his home last month, in which several computers were seized. Now, according to reports, he will plead guilty to child porn possession

Cut loose: Subway issued a one-line statement on its Facebook and Twitter pages late Tuesday distancing itself from Fogle

Sources have told FOX59 that the U.S. Attorney’s Office will hold a press conference Wednesday afternoon to discuss the deal and charges against Fogle.

The revelations come one month after feds executed a dawn raid on Fogle's home in Zionsville, Indiana, seizing electronic equipment.

One month before that, the executive director of the Jared Foundation - Fogle's organization that aspires to combat childhood obesity - was arrested in Indianapolis on federal child pornography charges.

Documents seized as part of the investigation into the former executive, Russell Taylor, claim Fogle bragged to a business colleague about having 'amazing' sex with a 16-year-old girl.

In a series of texts he told the female franchisee to advertise herself on Craigslist for sex, according to the documents seen by Business Insider.

The messages have now been subpoenaed by the FBI in connection with federal child sex abuse allegations.

Also accused: United States District Court documents in the case against Fogle's colleague Russell Taylor (above with Jared Fogle in April) claim he asked a woman to have sex with her horse

She reportedly replied: 'Is this the same website you found that 16 year old you that you f---ed?'

'I still can’t believe you only paid $100 for her.'

Fogle, who was based in Indiana where the age of consent is 16, said: 'It was amazing!!!!'

She responded: 'What part of her ad made you think she was selling sex?'

And Fogle concluded: 'U will have to read them to see.'

The woman, who asked to remain anonymous, claims she showed the texts to management in 2008 but nothing was done. Business Insider reports that no record was made of her complaint.

Her attorney said: 'She also specifically warned them that he should not be interacting with young people.'

Jane Doe stated Russell Taylor asked her if he and another adult female she identified could come to Jane Doe’s residence and engage in sexual activity with a horse Court papers

The revelation comes after Taylor, Fogle's former colleague, was accused of asking a woman if he could have sex with one of her horses.

In court papers filed in the case against Taylor, a woman identified as Jane Doe claims that Taylor asked if he and another woman could come to her house and engage in a three-way with the animal.

The woman, who refused Taylor's request, claims she was asked as she boards horses at her home.

'Jane Doe stated Russell Taylor asked her if he and another adult female she identified could come to Jane Doe’s residence and engage in sexual activity with a horse,' the document reads.

The woman also claims that Taylor sent her a photo 'that depicted a dog licking the nude genital area of an adult female.'

The papers, obtained by Radar Online, give a better idea of the child pornography found in Taylor's home at the time of his arrest as well.

The United States District Court documents say Taylor 'sexually exploited four children in his residence by using them to produce child pornography' and that police found 'multiple video files of nude or partially nude minor children in bedrooms and a bathroom'.

According to previous court documents detailing the April 29 raid on Taylor's Indianapolis home, the videos they found inside his house featured children as young as nine years old.

Investigators wrote that many of the videos appeared to be shot in bedrooms and bathrooms at Taylor's former and current homes.

Taylor maintains he used cameras in the rooms of his home to monitor the minors.

'Many of these videos showed the exposed genitals or pubic area of the children,' court records report, adding that the 'minors did not appear to be aware that they were being filmed.'

So far, four minors have been identified as victims in the case.

Some of the videos were found on thumb drives in Taylor's office, which allegedly have a link to Fogle or his foundation.

Police wrote that one drive contained 'commercially made child pornography from Eastern Europe similar to that seized on other investigations' and 'revealed a document field with Taylor's employer listed in the file name'.

The seized 'videos of child pornography and child erotica were recovered as were documents related to his employment as director of a foundation,' court documents detail.

Taylor (mugshot above) allegedly texted the woman saying he and a female friend wanted to come over as she boarded the animals

Following Taylor's arrest, the Jared Foundation cut all ties with the former executive director and Fogle issued a statement saying he was 'shocked' by the allegations.

Taylor was formally charged in court May 4 with seven counts of producing child pornography and one count of possessing child pornography, and ordered held at the Marion County jail.

He attempted suicide while behind bars May 6, but survived and was rushed to an Indianapolis area hospital to be put on life support.

Attorneys for Fogle claimed earlier this week that federal agents found no evidence of child pornography when they raided his home July 7.

Fogle's team pointed out the fact that he has not yet been arrested, saying that if the FBI had reason to detain the Subway spokesman he would already be behind bars.

TMZ also reported that Fogle's lawyers are also confident that the ongoing investigation will not turn up anything to incriminate their client.

The US attorney’s office, meanwhile, has not commented on the case.

Last week, a former friend of Fogle's who has known the Subway spokesman for the past 10 years claimed he told her on multiple occasions that he was interested in underage girls.

The woman - a former reporter from Sarasota, Florida, who is not being named to keep her identity safe - said that Fogle told her more than once that 'middle school girls are hot'.

She then added; 'They weren't jokes. They were very serious.'

This is the same women who would eventually notify the FBI about this information, and who agreed to wear a wire while speaking with Fogle to help with their investigation.

That eventually led to federal agents raiding Fogle's home in connection to the child pornography investigation into Russell Taylor, the former head of Fogle’s charitable foundation who was found to have over 400 pornographic videos featuring underage boys and girls in late April.

Fogle and Taylor were pictured in a post on Taylor's Facebook page on April 22 of this year, a week before that raid on Taylor's home.

The Florida woman said of her conversations with Fogle in an interview with ABC 7; 'The subject matter is similar to what the FBI found when they raided his home. It goes deeper than that.'

As for why she came forward, she said: 'It was the right thing to do, and I was able to do it and I have fortitude to do it. That's the main reason I did this.'

Raid: Fogle's home was searched by the FBI last month, but he has not been charged with any crime

Just hours after a special task-force served the weight-loss icon with a search warrant, Subway suspended its more than 15-year relationship with the spokesman.

Fogle became a household name in the the late 1990s, when he lost 245lbs eating an all-Subway diet and started working as a spokesman for the company - going on to amass a $15million fortune.

Of course, Fogle was not the only reason for Subway's growth. Its $5 footlong deals were popular with people looking to save money, and many customers liked that they could have their sandwiches made to order.

Still, Fogle was instrumental in Subway's success over the years.

In 2013, Subway celebrated the 15-year anniversary of Fogle's famous diet by featuring him in a Super Bowl ad and making him available to news organizations for interviews. At the time, Fogle said he still traveled regularly on behalf of Subway. He also said he had a Subway 'black card' that let him eat at the chain for free.

The company, based in Milford, Connecticut, has declined to provide details on its financial arrangements with Fogle.

In 1999, the year before Fogle appeared in his first Subway commercial, Subway had about 14,000 stores worldwide, according to Technomic. As of last year, that figure had tripled to about 43,000, making Subway the world's largest restaurant chain by locations.

More recently, Subway has run into challenges. The chain has been trying to keep up with changing attitudes about health and announced in June that it would remove artificial ingredients and colors from its North America menus by 2017. Subway is also facing more competition from rivals such as Firehouse Subs.