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9:50 AM PT -- Subway released a statement saying, "We are shocked about the news and believe it is related to a prior investigation of a former Jared Foundation employee. We are very concerned and will be monitoring the situation closely."

7:30 AM PT -- We've obtained the criminal complaint against Taylor ... and it says police recovered a 4 GB thumb drive and his employer, the Jared Foundation, was listed in a file name. Inside that file was a folder labeled, "Good stuff." Cops found a bunch of child pornography in that folder.

Since Taylor mixed work files with child porn ... it could explain why the FBI is searching Fogle's home. Jared himself, is not mentioned in the docs police found at Taylor's home office.

Subway spokesperson Jared Fogle's home was raided Tuesday morning by FBI agents conducting a child pornography investigation.

Jared was seen walking into his home outside Indianapolis with one of the agents ... and investigators have a truck parked in his driveway. We've learned Indiana State Police are also on the scene.

Russell Taylor, the former director of Fogle's charity foundation -- which is unaffiliated with Subway -- was arrested in April for possessing and producing child porn. Investigators reportedly found more than 500 videos in his home.

Fogle said his foundation was severing all ties with Taylor immediately after the arrest. It's unclear if this morning's raid is connected to the charges against Taylor.