In First, European Court Convicts Hezbollah Agent

The maximum sentence for money laundering is 14 years. The maximum sentence on each of the first four counts for which Yaccoub was convicted is three years, served either concurrently or successively. But, given precedence, a Cypriot judge told ABC News that the charges would likely be reduced to a total of seven to 10 years. Then again, the official said that because a case like this had never been tried before in Cyprus, it is difficult to predict how the court would sentence him.

President Obama, who is in Israel, today addressed an assembly of Israelis and directly condemned the Lebanese group.

"Every country that values justice should call Hezbollah what it truly is: a terrorist organization," he said to thunderous applause.

TRANSCRIPT: President Obama's Speech in Israel

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