MF Global trustee James Giddens is expected to face a cadre of angry brokerage customers today — the first formal meeting between representatives of the defunct company and the customer base still owed about $1 billion.

If the scores of customers expected at today’s downtown meeting are hoping to hear about the whereabouts of the still-missing $1.2 billion in MF customers funds, they better forget it. Giddens doesn’t know where the loot is.

The trustee, who has been charged with recovering money for MF’s brokerage customers following its Halloween bankruptcy, has returned 72 percent to most customers thus far.

Giddens is expected to urge customers to get in line for the remaining 28 percent.

More than $5 billion in supposedly safe accounts were frozen in the wake of the bankruptcy after it emerged that up to $1.2 billion was missing. Teams of investigators have been searching for the money ever since — but have yet to fully locate it.

Sources close to the probe said that investigators have tracked the money flow from customers’ accounts to MF’s internal accounts, but have been slowed in tracing it thereafter.

“If it just went from customers’ accounts (to outside accounts), it’d be easy to trace,” one person familiar with the probe told The Post. But MF moved money from customers’ accounts to MF house accounts and then out again in co-mingled amounts — giving recipients wiggle room to claim they received only legitimate funds.

Things could get heated at today’s hearing because customers worry with each passing day that they may never be made whole.

Nick Gentile of Atlantic Capital Advisor in Jersey City said he plans to go to “grill the trustee.”

“I’m still waiting for my money back,” he said.